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

Shares of Cogeco Communications Inc. (TSE:CCA) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$76.10.

Several brokerages recently commented on CCA. Canaccord Genuity Group increased their price objective on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Royal Bank of Canada increased their price objective on shares of Cogeco Communications from C$77.00 to C$78.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 9th. Finally, Scotiabank set a C$75.00 price objective on shares of Cogeco Communications and gave the company a “sector perform” rating in a research report on Thursday, April 17th.

Cogeco Communications Stock Performance

CCA stock opened at C$68.59 on Friday. The firm has a market cap of C$2.88 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 4.77 and a beta of 0.59. The firm has a 50-day simple moving average of C$66.75 and a two-hundred day simple moving average of C$66.86. Cogeco Communications has a one year low of C$50.82 and a one year high of C$75.09. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, May 7th were given a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Wednesday, April 23rd. Cogeco Communications’s dividend payout ratio is presently 41.40%.

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.