Cogeco Communications Inc. (TSE:CCA) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is C$76.17.

Several equities analysts have recently commented on the stock. TD Securities boosted their target price on shares of Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Canaccord Genuity Group raised shares of Cogeco Communications from a "hold" rating to a "buy" rating and boosted their target price for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. CIBC lowered their target price on shares of Cogeco Communications from C$73.00 to C$71.00 in a report on Wednesday, January 15th. BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Finally, Scotiabank lowered their target price on shares of Cogeco Communications from C$77.50 to C$75.50 in a report on Wednesday, January 15th.

Insider Buying and Selling at Cogeco Communications

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 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 position. Also, Director Robin Anne Bienenstock acquired 2,156 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was bought 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

Shares of CCA traded down C$0.94 on Wednesday, reaching C$62.17. The company's stock had a trading volume of 94,460 shares, compared to its average volume of 102,536. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The stock has a market capitalization of C$1.87 billion, a P/E ratio of 7.93, a PEG ratio of 4.77 and a beta of 0.59. The stock's 50 day simple moving average is C$66.24 and its two-hundred day simple moving average is C$66.69. Cogeco Communications has a 12-month low of C$50.82 and a 12-month high of C$75.09.

Cogeco Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Monday, January 27th. Cogeco Communications's payout ratio is 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.