Cogeco Communications - CCA Stock Forecast, Price & News

Cogeco Communications Inc. operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks. It provides Internet services using modems, Wi-Fi gateways, and extenders either on a rental basis or as part of the Internet service package; video services on a subscription basis; home phone services using Internet protocol (IP); local and long-distance calling services; broadband Internet services; and IP based telephony services and other network connectivity services delivered over fiber optic connection to larger businesses. The company serves the primary service units, Internet, video, and telephony service customers. It offers cable operator services under the Cogeco Connexion name in Québec and Ontario, and in the United States under the Atlantic Broadband brand. The company was formerly known as Cogeco Cable Inc. and changed its name to Cogeco Communications Inc. in January 2016. Cogeco Communications Inc. was founded in 1972 and is headquartered in Montreal, Canada. Cogeco Communications Inc. operates as a subsidiary of Cogeco Inc.

Cogeco Communications Trading Up 1.4 %

TSE:CCA traded up C$1.16 during trading hours on Friday, reaching C$85.31. The company had a trading volume of 63,327 shares, compared to its average volume of 87,216. The stock has a 50-day moving average of C$88.13 and a 200 day moving average of C$98.30. Cogeco Communications has a 1-year low of C$80.30 and a 1-year high of C$119.27. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 148.86. The stock has a market capitalization of C$4.06 billion and a P/E ratio of 9.64.

Cogeco Communications (TSE:CCA - Get Rating) last posted its earnings results on Wednesday, July 13th. The company reported C$2.16 EPS for the quarter, missing analysts' consensus estimates of C$2.29 by C($0.13). The business had revenue of C$728.12 million for the quarter. As a group, research analysts anticipate that Cogeco Communications will post 9.2600004 earnings per share for the current fiscal year.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 10th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.705 per share. The ex-dividend date of this dividend was Tuesday, July 26th. This represents a $2.82 annualized dividend and a dividend yield of 3.31%. Cogeco Communications's dividend payout ratio is presently 31.13%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CCA. Scotiabank dropped their target price on shares of Cogeco Communications from C$114.50 to C$112.50 in a report on Friday, July 15th. Royal Bank of Canada dropped their price objective on shares of Cogeco Communications from C$127.00 to C$118.00 in a report on Tuesday, July 12th. CIBC lowered shares of Cogeco Communications from an "outperform" rating to a "hold" rating and dropped their price objective for the company from C$126.00 to C$100.00 in a report on Wednesday, June 29th. TD Securities raised shares of Cogeco Communications to a "buy" rating and set a C$120.00 price objective for the company in a report on Friday, June 17th. Finally, BMO Capital Markets dropped their price objective on shares of Cogeco Communications from C$130.00 to C$120.00 in a report on Friday, July 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cogeco Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of C$116.06.

Insider Transactions at Cogeco Communications

In other news, Senior Officer Christian Jolivet sold 950 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of C$103.50, for a total transaction of C$98,325.00. Following the sale, the insider now owns 15,994 shares of the company's stock, valued at C$1,655,379. In other Cogeco Communications news, Senior Officer Christian Jolivet sold 950 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of C$103.50, for a total value of C$98,325.00. Following the transaction, the insider now directly owns 15,994 shares in the company, valued at C$1,655,379. Also, insider Cogeco Communications Inc. purchased 2,500 shares of the company's stock in a transaction on Wednesday, June 1st. The stock was bought at an average price of C$104.81 per share, for a total transaction of C$262,028.00. Following the completion of the purchase, the insider now directly owns 2,500 shares of the company's stock, valued at C$262,028. Over the last quarter, insiders have acquired 158,890 shares of company stock valued at $14,374,681.