Cogeco Communications (TSE:CCA) Upgraded to “Hold” at Desjardins

Desjardins upgraded shares of Cogeco Communications (TSE:CCA) to a hold rating in a research report report published on Wednesday,Zacks.com reports.

CCA has been the topic of several other research reports. TD Securities boosted their price objective on shares of Cogeco Communications from C$95.00 to C$100.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. BMO Capital Markets reduced their price objective on Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st. National Bankshares raised their price target on Cogeco Communications from C$66.00 to C$71.00 in a report on Friday, January 16th. CIBC upped their price target on shares of Cogeco Communications from C$68.00 to C$71.00 in a research note on Friday, January 16th. Finally, Scotiabank raised their price objective on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Cogeco Communications presently has an average rating of “Hold” and a consensus price target of C$76.03.

Cogeco Communications Trading Down 1.8%

Shares of TSE CCA traded down C$1.17 during midday trading on Wednesday, hitting C$65.32. 1,842 shares of the company traded hands, compared to its average volume of 166,996. 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 has a 12-month low of C$59.10 and a 12-month high of C$74.39. The stock has a 50-day moving average price of C$67.63 and a 200 day moving average price of C$65.73. The firm has a market cap of C$2.74 billion, a P/E ratio of 8.94, a P/E/G ratio of 4.77 and a beta of 0.65.

Cogeco Communications (TSE:CCA) last announced its earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share (EPS) for the quarter. The firm had revenue of C$707.25 million during the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%. As a group, analysts expect that Cogeco Communications will post 8.4900498 earnings per share for the current year.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were issued a $0.987 dividend. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.92. This represents a $3.95 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Wednesday, November 12th. Cogeco Communications’s dividend payout ratio is currently 51.34%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.