Cogeco Communications Inc. (TSE:CCA) Receives C$73.22 Consensus Target Price from Brokerages

Cogeco Communications Inc. (TSE:CCA) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$73.22.

A number of equities analysts have issued reports on the company. Desjardins set a C$68.00 target price on Cogeco Communications and gave the company a “hold” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada decreased their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research report on Friday, July 10th. Finally, National Bank Financial lowered shares of Cogeco Communications from an “outperform” rating to a “hold” rating and dropped their price target for the stock from C$75.00 to C$70.00 in a research note on Friday, July 17th.

Cogeco Communications Trading Up 1.4%

TSE:CCA opened at C$60.41 on Friday. The stock has a market cap of C$2.54 billion, a price-to-earnings ratio of -2.29, a price-to-earnings-growth ratio of 4.77 and a beta of 0.94. Cogeco Communications has a one year low of C$58.42 and a one year high of C$77.40. The company has a debt-to-equity ratio of 241.79, a quick ratio of 0.49 and a current ratio of 0.47. The business’s 50-day simple moving average is C$63.06 and its 200 day simple moving average is C$66.07.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 earnings per share for the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%.The firm had revenue of C$696.68 million during the quarter. As a group, sell-side analysts predict that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.987 per share. This represents a $3.95 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Wednesday, July 29th. Cogeco Communications’s dividend payout ratio is -14.69%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.