Analysts Set Cogeco Communications Inc. (TSE:CCA) Price Target at C$68.83

Shares of Cogeco Communications Inc. (TSE:CCA) have been given an average recommendation of “Hold” by the ten research firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$68.83.

A number of research analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the company a “sector perform” rating in a research note on Monday, July 15th. Bank of America raised shares of Cogeco Communications from an “underperform” rating to a “buy” rating and boosted their price objective for the company from C$60.00 to C$65.00 in a report on Wednesday, July 17th. Desjardins boosted their price objective on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a report on Monday, July 15th. Finally, TD Securities boosted their price objective on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the company a “buy” rating in a report on Monday, July 15th.

Cogeco Communications Stock Down 0.6 %

Shares of CCA opened at C$64.66 on Wednesday. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$66.94. The firm has a market cap of C$1.94 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 4.77 and a beta of 0.57. The firm’s 50-day simple moving average is C$57.90 and its 200 day simple moving average is C$57.80. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Thursday, July 11th. The company reported C$2.45 EPS for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.72. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. The business had revenue of C$750.58 million for the quarter, compared to analyst estimates of C$751.50 million. On average, analysts forecast that Cogeco Communications will post 8.4129032 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were issued a dividend of $0.854 per share. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Thursday, July 25th. Cogeco Communications’s dividend payout ratio (DPR) is presently 43.62%.

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.