Brokerages Set Cogeco Communications Inc. (TSE:CCA) Target Price at C$75.50

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have been given an average rating of "Moderate Buy" by the ten brokerages that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$75.50.

CCA has been the topic of several recent analyst reports. National Bank Financial raised shares of Cogeco Communications from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 19th. Canaccord Genuity Group upgraded shares of Cogeco Communications from a "hold" rating to a "buy" rating and boosted their price target for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. TD Securities raised their target price on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. BMO Capital Markets increased their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Finally, Scotiabank boosted their price target on shares of Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th.

Cogeco Communications Price Performance

Shares of TSE CCA traded down C$1.79 during midday trading on Tuesday, reaching C$66.80. The company's stock had a trading volume of 85,092 shares, compared to its average volume of 74,310. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. Cogeco Communications has a fifty-two week low of C$50.82 and a fifty-two week high of C$75.09. The company has a market cap of C$2.00 billion, a P/E ratio of 8.53, a P/E/G ratio of 4.77 and a beta of 0.59. The business's 50 day moving average price is C$70.20 and its two-hundred day moving average price is C$63.50.

Cogeco Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were given a dividend of $0.922 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.69 annualized dividend and a yield of 5.52%. This is a positive change from Cogeco Communications's previous quarterly dividend of $0.85. Cogeco Communications's dividend payout ratio is presently 43.62%.

Insider Transactions at Cogeco Communications

In other news, Director Jacques Royer sold 657 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 1 shares of the company's stock, valued at C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock acquired 2,156 shares of the business's stock in a transaction dated Friday, November 29th. The stock was purchased at an average price of C$69.66 per share, with a total value of C$150,189.33. 0.46% of the stock is currently owned by company insiders.

About Cogeco Communications

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.