Pierre Maheux Sells 274 Shares of Cogeco Communications Inc (TSE:CCA) Stock

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Cogeco Communications Inc (TSE:CCA) Senior Officer Pierre Maheux sold 274 shares of Cogeco Communications stock in a transaction dated Monday, July 15th. The shares were sold at an average price of C$105.35, for a total value of C$28,865.90. Following the transaction, the insider now owns 1,934 shares of the company’s stock, valued at approximately C$203,746.90.

TSE CCA opened at C$106.81 on Wednesday. The company’s 50-day moving average is C$94.84. The stock has a market cap of $5.12 billion and a price-to-earnings ratio of 15.30. Cogeco Communications Inc has a fifty-two week low of C$61.68 and a fifty-two week high of C$107.05. The company has a debt-to-equity ratio of 136.92, a current ratio of 1.80 and a quick ratio of 1.71.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, August 7th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, July 23rd. This represents a $2.10 annualized dividend and a dividend yield of 1.97%. Cogeco Communications’s dividend payout ratio is presently 29.37%.

CCA has been the subject of a number of recent research reports. Canaccord Genuity lifted their price objective on Cogeco Communications from C$97.00 to C$104.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Echelon Wealth Partners lifted their price objective on Cogeco Communications from C$98.00 to C$106.00 and gave the company a “buy” rating in a research note on Tuesday. Desjardins lifted their price objective on Cogeco Communications from C$96.00 to C$99.00 in a research note on Friday, July 12th. Royal Bank of Canada reiterated a “hold” rating and set a $0.35 price objective on shares of DB Commodity Double Short ETN in a research note on Friday, July 12th. Finally, CIBC upgraded Alaris Royalty to a “buy” rating in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of C$99.33.

About Cogeco Communications

Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.

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