Cogeco Communications (TSE:CCA) Price Target Raised to C$78.00 at Royal Bank of Canada

Cogeco Communications (TSE:CCA - Free Report) had its target price raised by Royal Bank of Canada from C$77.00 to C$78.00 in a report released on Wednesday morning,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other brokerages have also recently commented on CCA. Scotiabank dropped their price target on Cogeco Communications from C$77.50 to C$75.50 in a research report on Wednesday, January 15th. CIBC cut their target price on shares of Cogeco Communications from C$73.00 to C$71.00 in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cogeco Communications has a consensus rating of "Moderate Buy" and a consensus price target of C$76.10.

Cogeco Communications Stock Up 3.7 %

Shares of CCA stock traded up C$2.30 on Wednesday, hitting C$64.83. The stock had a trading volume of 83,450 shares, compared to its average volume of 108,770. Cogeco Communications has a 12-month low of C$50.82 and a 12-month high of C$75.09. The business has a 50 day moving average of C$66.12 and a 200 day moving average of C$67.42. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49. The stock has a market cap of C$2.72 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, May 7th will be issued a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a dividend yield of 5.69%. The ex-dividend date is Wednesday, April 23rd. Cogeco Communications's dividend payout ratio is currently 41.40%.

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.