Brokerages Set Cogeco Communications Inc. (TSE:CCA) PT at C$77.06

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$77.06.

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

Insiders Place Their Bets

In related news, Director Jacques Royer sold 657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total value of C$45,241.02. Following the transaction, the director now directly owns 1 shares in the company, valued at C$68.86. This represents a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock bought 2,156 shares of the stock in a transaction on Friday, November 29th. The shares were acquired at an average cost of C$69.66 per share, with a total value of C$150,189.33. Insiders own 0.46% of the company's stock.

Cogeco Communications Stock Performance

CCA stock traded down C$1.18 during trading on Friday, reaching C$67.71. 62,282 shares of the stock were exchanged, compared to its average volume of 54,555. The stock has a 50 day simple moving average of C$69.24 and a 200-day simple moving average of C$65.27. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The company has a market capitalization of C$2.03 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. Cogeco Communications has a twelve month low of C$50.82 and a twelve month high of C$75.09.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were paid a $0.922 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a yield of 5.45%. This is a positive change from Cogeco Communications's previous quarterly dividend of $0.85. Cogeco Communications's payout ratio is currently 43.62%.

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.