Cogeco Communications Inc (CCA) Given Average Rating of “Hold” by Brokerages
Cogeco Communications Inc (TSE:CCA) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$85.08.
Several analysts recently issued reports on CCA shares. Scotiabank reiterated an “outperform” rating and issued a C$78.00 price target on shares of Cogeco Communications in a report on Tuesday, July 4th. Royal Bank Of Canada increased 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. BMO Capital Markets reiterated a “market perform” rating and issued a C$82.00 price target on shares of Cogeco Communications in a report on Tuesday, July 11th. Desjardins downgraded Cogeco Communications from a “buy” rating to a “hold” rating and increased their price target for the company from C$79.00 to C$87.50 in a report on Tuesday, July 11th. Finally, TD Securities downgraded Cogeco Communications from a “hold” rating to a “reduce” rating and set a C$80.00 price target for the company. in a report on Wednesday, July 12th.
In other news, insider Elizabeth Alves sold 996 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were 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 stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of C$87.44, for a total transaction of C$78,696.00. Over the last quarter, insiders sold 2,146 shares of company stock valued at $187,657.
Cogeco Communications (TSE CCA) traded down 1.38% on Friday, reaching $90.43. The company had a trading volume of 53,275 shares. The stock’s 50-day moving average price is $90.07 and its 200 day moving average price is $79.87. Cogeco Communications has a 52-week low of $60.62 and a 52-week high of $94.43. The firm has a market capitalization of $4.45 billion and a price-to-earnings ratio of 14.79.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors 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 annualized dividend and a yield of 1.90%.
About Cogeco Communications
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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