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

Shares of Cogeco Communications Inc. (TSE:CCA) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$76.17.

Several equities analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. CIBC cut their target price on Cogeco Communications from C$73.00 to C$71.00 in a research report on Wednesday. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$64.00 to C$80.00 in a report on Friday, September 20th. Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and increased their price target for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. Finally, TD Securities lifted their price objective on shares of Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th.

Insider Activity at Cogeco Communications

In other news, Director Jacques Royer sold 657 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total value of C$45,241.02. Following the transaction, the director now owns 1 shares in the company, valued at C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock bought 2,156 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. 0.46% of the stock is currently owned by insiders.

Cogeco Communications Stock Down 0.5 %

Shares of TSE CCA opened at C$62.10 on Friday. Cogeco Communications has a 52-week low of C$50.82 and a 52-week high of C$75.09. 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 company’s 50 day moving average price is C$68.48 and its 200-day moving average price is C$65.68. The company has a market capitalization of C$1.86 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were issued a $0.922 dividend. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Thursday, November 14th. Cogeco Communications’s dividend payout ratio (DPR) is currently 43.62%.

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.