Cogeco Communications Inc. (TSE:CCA) Declares $0.85 Quarterly Dividend

Cogeco Communications Inc. (TSE:CCA) announced a quarterly dividend on Friday, April 12th, Zacks reports. Investors of record on Thursday, April 25th will be paid a dividend of 0.854 per share on Thursday, May 9th. This represents a $3.42 annualized dividend and a dividend yield of 6.06%. The ex-dividend date is Wednesday, April 24th.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$56.36 on Tuesday. The company has a debt-to-equity ratio of 136.39, a current ratio of 0.59 and a quick ratio of 0.49. The stock has a fifty day moving average price of C$59.31 and a 200 day moving average price of C$58.32. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$72.56. The company has a market cap of C$1.70 billion, a PE ratio of 6.77, a P/E/G ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. The firm had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million. Sell-side analysts forecast that Cogeco Communications will post 8.4785185 EPS for the current year.

Analyst Upgrades and Downgrades

CCA has been the subject of a number of recent analyst reports. Scotiabank reduced their target price on Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a report on Monday, April 15th. Canaccord Genuity Group dropped their price objective on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Desjardins dropped their price objective 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. BMO Capital Markets lifted their price objective on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a report on Friday, January 12th. Finally, TD Securities dropped their price objective on Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Hold” and a consensus price target of C$69.69.

Cogeco Communications Company Profile

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.