Cogeco Communications (TSE:CCA) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Cogeco Communications (TSE:CCA) from an underperform rating to a buy rating in a report published on Wednesday, BayStreet.CA reports. They currently have C$65.00 target price on the stock, up from their prior target price of C$60.00.

CCA has been the topic of a number of other reports. Canaccord Genuity Group lowered 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 report on Monday, April 15th. TD Securities lifted their target price on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the stock a buy rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their target price on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the stock a sector perform rating in a research note on Monday, July 15th. Scotiabank reduced their target price 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, Desjardins lifted their target price on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the stock a hold rating in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of C$68.83.

Cogeco Communications Stock Performance

CCA opened at C$62.20 on Wednesday. The firm has a market capitalization of C$1.88 billion, a PE ratio of 7.48, a PEG ratio of 4.77 and a beta of 0.47. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$68.35. The firm’s 50-day moving average price is C$53.89 and its 200 day moving average price is C$57.52. The company has a current ratio of 0.55, a quick ratio of 0.49 and a debt-to-equity ratio of 143.84.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th will be paid a $0.854 dividend. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date is Thursday, July 25th. Cogeco Communications’s dividend payout ratio (DPR) is 41.11%.

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.