Cogeco Communications Inc. (TSE:CCA) Director Acquires C$150,189.33 in Stock

Cogeco Communications Inc. (TSE:CCA) Director Robin Anne Bienenstock purchased 2,156 shares of Cogeco Communications stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of C$69.66 per share, with a total value of C$150,189.33.

Cogeco Communications Stock Up 4.7 %

Shares of CCA opened at C$70.00 on Monday. The stock has a 50 day moving average price of C$69.65 and a 200 day moving average price of C$62.36. 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 market capitalization of C$2.10 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 4.77 and a beta of 0.59. Cogeco Communications Inc. has a one year low of C$50.82 and a one year high of C$72.91.

Cogeco Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were given a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.27%. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, November 14th. Cogeco Communications’s dividend payout ratio is 43.62%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCA. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$64.00 to C$80.00 in a research note on Friday, September 20th. Scotiabank upped their price objective on shares of Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday, November 4th. TD Securities raised their target price on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. BMO Capital Markets upped their price target on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Finally, Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and raised their price objective for the company from C$65.00 to C$77.00 in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$75.50.

Cogeco Communications Company Profile

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.