Cogeco Communications Inc. (TSE:CCA) Plans $0.85 Quarterly Dividend

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Friday, April 12th, Zacks reports. Stockholders of record on Thursday, April 25th will be given a dividend of 0.854 per share on Thursday, May 9th. This represents a $3.42 annualized dividend and a dividend yield of 6.06%. The ex-dividend date is Wednesday, April 24th.

Cogeco Communications Price Performance

CCA stock opened at C$56.36 on Tuesday. Cogeco Communications has a one year low of C$50.78 and a one year high of C$72.56. The company’s fifty day moving average price is C$59.31 and its 200-day moving average price is C$58.32. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. The company has a market capitalization of C$1.70 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last released its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The firm had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million. On average, equities analysts anticipate that Cogeco Communications will post 8.4785185 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CCA shares. TD Securities decreased their price target on shares of Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. BMO Capital Markets upped their price target on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a “market perform” rating in a research note on Friday, January 12th. Royal Bank of Canada upped their price target on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 16th. Scotiabank decreased their price target on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a research note on Monday, April 15th. Finally, Canaccord Genuity Group decreased their price target on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Cogeco Communications presently has an average rating of “Hold” and an average price target of C$69.69.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.