Brokerages Set Cogeco Communications Inc. (TSE:CCA) Target Price at C$75.56

Shares of Cogeco Communications Inc. (TSE:CCA) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$75.22.

CCA has been the topic of a number of recent research reports. CIBC lowered their price target on shares of Cogeco Communications from C$71.00 to C$68.00 in a research report on Friday. Scotiabank lowered their price target on shares of Cogeco Communications from C$75.50 to C$75.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 17th. National Bankshares lowered shares of Cogeco Communications from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$80.00 to C$69.00 in a research report on Tuesday, August 12th. Desjardins set a C$73.00 price objective on shares of Cogeco Communications and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets reduced their price objective on shares of Cogeco Communications from C$80.00 to C$75.00 in a research note on Thursday, July 17th.

Cogeco Communications Price Performance

TSE:CCA opened at C$66.56 on Monday. Cogeco Communications has a 52 week low of C$59.10 and a 52 week high of C$75.09. The firm has a market cap of C$2.80 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 4.77 and a beta of 0.52. The firm’s 50-day simple moving average is C$64.25 and its 200 day simple moving average is C$66.22. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a 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.