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 Price Performance

Shares of TSE:CCA opened at C$84.96 on Tuesday. Cogeco Communications has a 1-year low of C$80.30 and a 1-year high of C$119.27. The firm has a market capitalization of C$4.05 billion and a PE ratio of 9.60. The business's 50 day moving average is C$87.83 and its 200-day moving average is C$98.21. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 148.86.

Cogeco Communications (TSE:CCA - Get Rating) last released its earnings results on Wednesday, July 13th. The company reported C$2.16 earnings per share for the quarter, missing analysts' consensus estimates of C$2.29 by C($0.13). The firm had revenue of C$728.12 million during the quarter. Sell-side analysts predict that Cogeco Communications will post 9.2600004 earnings per share for the current year.

Cogeco Communications Announces Dividend

The company also recently disclosed 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 3.32%. Cogeco Communications's dividend payout ratio is currently 31.13%.

Wall Street Analysts Forecast Growth

CCA has been the subject of several research reports. CIBC cut Cogeco Communications from an "outperform" rating to a "hold" rating and decreased their target price for the company from C$126.00 to C$100.00 in a research note on Wednesday, June 29th. National Bank Financial lowered Cogeco Communications from an "outperform market weight" rating to a "sector perform market weight" rating in a research report on Thursday, July 14th. National Bankshares lowered Cogeco Communications from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from C$119.00 to C$108.00 in a research report on Friday, July 15th. TD Securities upgraded Cogeco Communications to a "buy" rating and set a C$120.00 price target for the company in a research report on Friday, June 17th. Finally, Royal Bank of Canada reduced their price objective on Cogeco Communications from C$127.00 to C$118.00 in a research note on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Cogeco Communications currently has an average rating of "Moderate Buy" and an average price target of C$116.06.

Insider Transactions at Cogeco Communications

In other Cogeco Communications news, Senior Officer Christian Jolivet sold 950 shares of the company's stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of C$103.50, for a total value of C$98,325.00. Following the sale, the insider now owns 15,994 shares in the company, valued at C$1,655,379. In other news, Senior Officer Christian Jolivet sold 950 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of C$103.50, for a total transaction of C$98,325.00. Following the transaction, the insider now owns 15,994 shares in the company, valued at C$1,655,379. Also, Director Robin Anne Bienenstock bought 890 shares of the stock in a transaction dated Friday, July 29th. The shares were purchased at an average price of C$84.00 per share, for a total transaction of C$74,757.33. Following the purchase, the director now owns 890 shares of the company's stock, valued at approximately C$74,757.33. Insiders bought 158,890 shares of company stock valued at $14,374,681 over the last three months.