Analysts Set Cogeco Communications Inc. (TSE:CCA) Target Price at C$71.28

Cogeco Communications Inc. (TSE:CCA) has been given an average rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$71.28.

Several analysts have issued reports on the stock. Bank of America raised shares of Cogeco Communications from an “underperform” rating to a “buy” rating and raised their price objective for the stock from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$64.00 to C$80.00 in a research report on Friday, September 20th. Desjardins lifted their target price on Cogeco Communications from C$64.00 to C$69.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada upped their price target on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the stock a “sector perform” rating in a report on Monday, July 15th.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock opened at C$68.26 on Thursday. The stock has a market cap of C$2.05 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. The stock has a 50 day moving average price of C$66.07 and a 200-day moving average price of C$59.27. Cogeco Communications has a one year low of C$50.78 and a one year high of C$71.69.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Thursday, July 11th. The company reported C$2.45 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.72. The business had revenue of C$750.58 million for the quarter, compared to analysts’ expectations of C$751.50 million. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. Equities analysts expect that Cogeco Communications will post 8.4900498 EPS for the current year.

Cogeco Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were issued a dividend of $0.854 per share. This represents a $3.42 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Thursday, July 25th. Cogeco Communications’s payout ratio is 43.62%.

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.