Cogeco Communications Inc. (TSE:CCA) Receives C$69.69 Consensus Target Price from Analysts

Cogeco Communications Inc. (TSE:CCA) has earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$68.44.

CCA has been the subject of a number of analyst reports. Desjardins lowered their price target on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Canaccord Genuity Group cut their price target on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Royal Bank of Canada raised their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 16th. TD Securities cut their target price on Cogeco Communications from C$90.00 to C$80.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Scotiabank decreased their price target on Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a research note on Monday, April 15th.

Cogeco Communications Stock Performance

Cogeco Communications stock opened at C$53.03 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.55 and a debt-to-equity ratio of 143.84. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56. The company’s 50-day moving average price is C$55.85 and its 200-day moving average price is C$57.96. The company has a market cap of C$1.60 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.33. The business had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million. Cogeco Communications had a return on equity of 11.41% and a net margin of 12.34%. On average, equities research analysts forecast that Cogeco Communications will post 8.341791 EPS for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th were issued a $0.854 dividend. This represents a $3.42 annualized dividend and a dividend yield of 6.44%. The ex-dividend date was Wednesday, April 24th. Cogeco Communications’s dividend payout ratio is 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.