Cogeco Communications Inc. (TSE:CCA) Receives Consensus Recommendation of “Hold” from Analysts

Cogeco Communications Inc. (TSE:CCA) has received a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$87.25.

CCA has been the topic of several research analyst reports. National Bank Financial cut Cogeco Communications from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. TD Securities dropped their price objective on Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Scotiabank reduced their price objective on Cogeco Communications from C$75.50 to C$74.00 in a report on Friday, October 31st. Desjardins lowered their target price on Cogeco Communications from C$173.00 to C$171.00 and set a “hold” rating on the stock in a research note on Monday, November 3rd. Finally, BMO Capital Markets dropped their price target on Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st.

Cogeco Communications Stock Performance

Shares of CCA stock opened at C$67.35 on Tuesday. Cogeco Communications has a one year low of C$59.10 and a one year high of C$75.09. The firm has a 50-day moving average of C$65.36 and a 200-day moving average of C$66.17. 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 company has a market cap of C$2.84 billion, a P/E ratio of 8.86, a P/E/G ratio of 4.77 and a beta of 0.58.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.987 per share. This represents a $3.95 annualized dividend and a yield of 5.9%. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, November 12th. Cogeco Communications’s payout ratio is currently 48.53%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services.