Cogeco Communications (TSE:CCA) Given New C$79.00 Price Target at Royal Bank of Canada

Cogeco Communications (TSE:CCA) had its price objective increased by Royal Bank of Canada from C$76.00 to C$79.00 in a research report report published on Tuesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

CCA has been the topic of a number of other reports. Scotiabank reduced their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a sector perform rating on the stock in a research note on Monday. Canaccord Genuity Group reduced their price objective on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating on the stock in a research note on Monday. TD Securities reduced their price objective on shares of Cogeco Communications from C$93.00 to C$90.00 and set a buy rating on the stock in a research note on Monday. CIBC reduced their price target on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating on the stock in a research report on Monday, December 18th. Finally, BMO Capital Markets raised their price target on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a market perform rating in a research report on Friday, January 12th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cogeco Communications has a consensus rating of Hold and an average price target of C$69.69.

Cogeco Communications Price Performance

Shares of CCA stock opened at C$56.45 on Tuesday. The company has a market capitalization of C$1.71 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. The firm has a fifty day simple moving average of C$59.80 and a 200-day simple moving average of C$58.49. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56.

Cogeco Communications (TSE:CCA) last announced its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The business had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million. Equities research analysts anticipate that Cogeco Communications will post 8.4785185 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be issued a $0.854 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.05%. Cogeco Communications’s dividend payout ratio (DPR) is presently 41.11%.

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.