Cogeco Communications (TSE:CCA) Given a C$68.00 Price Target at Desjardins

Desjardins set a C$68.00 target price on Cogeco Communications (TSE:CCA) in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Several other analysts have also recently commented on the company. TD Securities upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Canaccord Genuity Group reduced their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Scotiabank decreased their price target on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a research note on Monday, April 13th. TD raised Cogeco Communications from a “hold” rating to a “buy” rating and lowered their price objective for the stock from C$85.00 to C$83.00 in a research note on Monday, April 13th. Finally, Royal Bank Of Canada lowered their target price on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cogeco Communications has an average rating of “Moderate Buy” and an average target price of C$74.33.

Cogeco Communications Trading Up 1.3%

Shares of CCA stock opened at C$64.35 on Wednesday. The stock’s fifty day simple moving average is C$64.39 and its 200 day simple moving average is C$67.05. Cogeco Communications has a twelve month low of C$60.89 and a twelve month high of C$77.40. The firm has a market capitalization of C$2.70 billion, a P/E ratio of 8.65, a P/E/G ratio of 4.77 and a beta of 0.93. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 141.57.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share for the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%.The company had revenue of C$696.68 million for the quarter. As a group, sell-side analysts predict that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Thursday, May 7th were paid a $0.987 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $3.95 annualized dividend and a yield of 6.1%. Cogeco Communications’s dividend payout ratio (DPR) is currently 51.32%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.