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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. National Bank Financial lowered shares of 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 shares of Cogeco Communications from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from C$119.00 to C$108.00 in a research report on Friday, July 15th. Scotiabank dropped their price target on shares of Cogeco Communications from C$114.50 to C$112.50 in a research report on Friday, July 15th. TD Securities raised shares of Cogeco Communications to a "buy" rating and set a C$120.00 price target on the stock in a research report on Friday, June 17th. Finally, CIBC lowered shares of Cogeco Communications from an "outperform" rating to a "hold" rating and dropped their price target for the company from C$126.00 to C$100.00 in a research report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cogeco Communications currently has an average rating of "Moderate Buy" and a consensus target price of C$116.06.

Cogeco Communications Trading Down 0.5 %

Shares of Cogeco Communications stock opened at C$82.95 on Tuesday. The company's fifty day simple moving average is C$89.63 and its 200-day simple moving average is C$98.71. The company has a market cap of C$2.52 billion and a price-to-earnings ratio of 9.37. 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 has a 1 year low of C$80.30 and a 1 year high of C$119.27.

Cogeco Communications (TSE:CCA - Get Rating) last announced its quarterly earnings data on Wednesday, July 13th. The company reported C$2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.29 by C($0.13). The firm had revenue of C$728.12 million for the quarter. As a group, sell-side analysts expect that Cogeco Communications will post 9.2600004 EPS for the current year.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Wednesday, August 10th will be paid a dividend of $0.705 per share. The ex-dividend date of this dividend is Tuesday, July 26th. This represents a $2.82 dividend on an annualized basis and a yield of 3.40%. Cogeco Communications's dividend payout ratio is currently 31.86%.

Insiders Place Their Bets

In other Cogeco Communications news, Director Robin Anne Bienenstock purchased 890 shares of the firm's stock in a transaction on 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 completion of the purchase, the director now directly owns 890 shares of the company's stock, valued at C$74,757.33. In other Cogeco Communications news, Director Robin Anne Bienenstock purchased 890 shares of the firm's stock in a transaction on 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 completion of the purchase, the director now directly owns 890 shares of the company's stock, valued at C$74,757.33. Also, Senior Officer Christian Jolivet sold 950 shares of Cogeco Communications stock in a transaction 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 sale, the insider now owns 15,994 shares in the company, valued at approximately C$1,655,379. Insiders have acquired 158,890 shares of company stock worth $14,374,681 over the last 90 days.