Cogeco Communications (TSE:CCA) Price Target Lowered to C$68.00 at CIBC

Cogeco Communications (TSE:CCA) had its price target reduced by CIBC from C$71.00 to C$68.00 in a research note released on Friday,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada reduced their price target on Cogeco Communications from C$75.00 to C$74.00 in a research report on Thursday, July 17th. National Bank Financial cut Cogeco Communications from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. BMO Capital Markets reduced their target price on Cogeco Communications from C$80.00 to C$75.00 in a research report on Thursday, July 17th. Desjardins set a C$73.00 target price on Cogeco Communications and gave the stock a “hold” rating in a research report on Thursday, October 9th. Finally, Scotiabank reduced their target price on Cogeco Communications from C$75.50 to C$75.00 and set a “sector perform” rating for the company in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$75.22.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$66.56 on Friday. The stock has a market cap of C$2.80 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 4.77 and a beta of 0.52. Cogeco Communications has a fifty-two week low of C$59.10 and a fifty-two week high of C$75.09. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. The stock has a fifty day moving average of C$64.25 and a 200-day moving average of C$66.26.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 12th were issued a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, July 29th. Cogeco Communications’s dividend payout ratio is presently 46.89%.

About Cogeco Communications

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.