Cogeco Communications Inc. (TSE:CCA) Stock Has Consensus Target Price of C$71.17 According to Brokerages

Cogeco Communications Inc. (TSE:CCA) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$71.17.

CCA has been the subject of several recent analyst reports. Royal Bank Of Canada cut their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. Desjardins lowered their price target on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 7th. Canadian Imperial Bank of Commerce lowered their price target on Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. National Bank Financial dropped their price objective on Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating on the stock in a report on Monday, August 31st. Finally, Scotiabank cut their price objective on Cogeco Communications from C$68.00 to C$64.50 and set a “sector perform” rating for the company in a research report on Tuesday, October 20th.

Cogeco Communications Stock Performance

CCA stock opened at C$54.04 on Friday. The company’s 50-day simple moving average is C$56.12 and its 200-day simple moving average is C$60.82. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79. Cogeco Communications has a 52-week low of C$48.18 and a 52-week high of C$77.40. The firm has a market cap of C$2.27 billion, a P/E ratio of -2.04, a PEG ratio of 4.77 and a beta of 1.08.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.9870 per share. The ex-dividend date was Wednesday, July 29th. This represents a $3.95 dividend on an annualized basis and a dividend yield of 7.3%. Cogeco Communications’s dividend payout ratio (DPR) is -14.69%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.