Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as C$72.36 and last traded at C$72.13, with a volume of 60570 shares trading hands. The stock had previously closed at C$71.50.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CCA. National Bankshares raised shares of Cogeco Communications from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th. BMO Capital Markets boosted their price target on shares of Cogeco Communications from C$70.00 to C$80.00 in a report on Monday. Canaccord Genuity Group upgraded shares of Cogeco Communications from a "hold" rating to a "buy" rating and upped their price objective for the company from C$65.00 to C$77.00 in a research report on Monday. Royal Bank of Canada lifted their target price on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Finally, Scotiabank increased their price target on Cogeco Communications from C$73.50 to C$77.50 in a report on Monday. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cogeco Communications presently has a consensus rating of "Moderate Buy" and an average target price of C$75.50.
View Our Latest Research Report on Cogeco Communications
Cogeco Communications Stock Performance
The firm has a market cap of C$2.16 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The stock has a 50-day moving average of C$68.40 and a 200-day moving average of C$60.84. 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 Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 28th will be given a $0.922 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a yield of 5.11%. This is an increase from Cogeco Communications's previous quarterly dividend of $0.85. Cogeco Communications's dividend payout ratio (DPR) is 43.62%.
About Cogeco Communications
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cogeco Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cogeco Communications wasn't on the list.
While Cogeco Communications currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
