Cogeco Communications Inc (CCA) Receives Average Rating of “Hold” from Analysts
Shares of Cogeco Communications Inc (TSE:CCA) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$85.08.
Several research analysts have commented on the company. BMO Capital Markets raised their price objective on Cogeco Communications from C$82.00 to C$84.00 and gave the stock a “market perform” rating in a report on Monday, July 17th. Desjardins downgraded Cogeco Communications from a “buy” rating to a “hold” rating and lifted their price target for the company from C$79.00 to C$87.50 in a report on Tuesday, July 11th. Barclays PLC lifted their price target on Cogeco Communications from C$75.00 to C$80.00 in a report on Monday, July 17th. TD Securities lifted their price target on Cogeco Communications from C$80.00 to C$83.00 and gave the company a “reduce” rating in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada lifted their price target on Cogeco Communications from C$76.00 to C$81.00 and gave the company a “sector perform” rating in a report on Tuesday, July 11th.
Cogeco Communications (TSE CCA) traded up 0.13% during midday trading on Tuesday, reaching $92.22. The company’s stock had a trading volume of 85,938 shares. The firm has a 50 day moving average price of $85.26 and a 200-day moving average price of $77.59. The company has a market cap of $4.54 billion and a P/E ratio of 15.08. Cogeco Communications has a 12-month low of $60.62 and a 12-month high of $92.31.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Thursday, August 10th were issued a $0.43 dividend. The ex-dividend date was Tuesday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.87%.
In related news, insider Elizabeth Alves sold 996 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of C$87.05, for a total transaction of C$86,701.80. Also, insider René Guimond sold 900 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of C$87.44, for a total value of C$78,696.00. Insiders sold a total of 2,096 shares of company stock worth $183,087 over the last quarter.
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Cogeco Communications Company Profile
Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.
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