Cogeco Communications Inc. (TSE:CCA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Cogeco Communications Inc. (TSE:CCA) have earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Three investment 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 1-year price objective among analysts that have issued ratings on the stock in the last year is C$76.17.

CCA has been the topic of several recent analyst reports. CIBC cut their price target on shares of Cogeco Communications from C$73.00 to C$71.00 in a report on Wednesday, January 15th. Canaccord Genuity Group upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and upped their target price for the company from C$65.00 to C$77.00 in a research note on Monday, November 4th. Scotiabank decreased their price target on Cogeco Communications from C$77.50 to C$75.50 in a research note on Wednesday, January 15th. BMO Capital Markets upped their price objective on Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. Finally, TD Securities increased their target price on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th.

Cogeco Communications Price Performance

CCA stock opened at C$63.35 on Wednesday. The company has a market capitalization of C$1.90 billion, a PE ratio of 8.08, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The stock’s 50 day moving average is C$66.09 and its two-hundred day moving average is C$66.74. Cogeco Communications has a 52-week low of C$50.82 and a 52-week high of C$75.09.

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 10th were paid a $0.922 dividend. The ex-dividend date was Monday, January 27th. This represents a $3.69 dividend on an annualized basis and a yield of 5.82%. Cogeco Communications’s payout ratio is currently 43.62%.

Insider Transactions at Cogeco Communications

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the completion of the transaction, the director now directly owns 1 shares of the company’s stock, valued at C$68.86. The trade was a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock bought 2,156 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was purchased at an average price of C$69.66 per share, with a total value of C$150,189.33. Insiders own 0.46% of the company’s stock.

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.