Cogeco Communications Inc. (CCA) Downgraded by Canaccord Genuity to Hold

Canaccord Genuity lowered shares of Cogeco Communications Inc. (TSE:CCA) from a buy rating to a hold rating in a report issued on Monday, November 6th. The brokerage currently has C$93.00 target price on the stock, up from their previous target price of C$89.00.

Other analysts have also recently issued reports about the company. Barclays PLC increased their price target on Cogeco Communications from C$75.00 to C$80.00 in a research report on Monday, July 17th. Desjardins cut Cogeco Communications from a buy rating to a hold rating and increased their price target for the stock from C$79.00 to C$87.50 in a research report on Tuesday, July 11th. BMO Capital Markets reiterated a market perform rating and set a C$94.00 price target on shares of Cogeco Communications in a research report on Monday, November 6th. Macquarie lowered Cogeco Communications from an outperform rating to a neutral rating and set a C$90.00 price objective for the company. in a report on Wednesday, September 20th. Finally, Scotiabank reissued an outperform rating and issued a C$102.00 price objective on shares of Cogeco Communications in a report on Monday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of C$91.17.

Shares of Cogeco Communications (CCA) traded down C$0.34 during midday trading on Monday, reaching C$91.79. The company’s stock had a trading volume of 41,900 shares, compared to its average volume of 69,998. Cogeco Communications has a 12-month low of C$63.64 and a 12-month high of C$95.21.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.475 per share. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.43. This represents a $1.90 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, November 15th. Cogeco Communications’s dividend payout ratio (DPR) is presently 21.39%.

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Cogeco Communications Company Profile

Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.

Analyst Recommendations for Cogeco Communications (TSE:CCA)

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