Cogeco Communications Inc. (TSE:CCA) Given Consensus Rating of “Moderate Buy” by Analysts

Cogeco Communications Inc. (TSE:CCA) has earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$74.33.

A number of brokerages recently weighed in on CCA. Canaccord Genuity Group decreased their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Scotiabank cut their price objective on 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. Royal Bank Of Canada reduced their target price on 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. Desjardins decreased their target price on Cogeco Communications from C$71.00 to C$68.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Finally, TD Securities raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th.

Cogeco Communications Stock Down 0.7%

Shares of TSE CCA opened at C$63.50 on Wednesday. The firm has a market cap of C$2.67 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 4.77 and a beta of 0.93. The company’s 50-day simple moving average is C$64.37 and its 200-day simple moving average is C$67.07. 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 has a 52-week low of C$60.89 and a 52-week high of C$77.40.

Cogeco Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Thursday, May 7th were issued a $0.987 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a yield of 6.2%. Cogeco Communications’s dividend payout ratio (DPR) is presently 51.32%.

About Cogeco Communications

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.