Cogeco Communications (TSE:CCA) Price Target Cut to C$71.00 by Analysts at CIBC

Cogeco Communications (TSE:CCA) had its price objective trimmed by CIBC from C$73.00 to C$71.00 in a research report released on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on CCA. TD Securities lifted their price target on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Canaccord Genuity Group upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and increased their target price for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada upped their price target on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Finally, National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$64.00 to C$80.00 in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cogeco Communications currently has an average rating of “Moderate Buy” and an average target price of C$76.17.

Cogeco Communications Price Performance

Cogeco Communications stock opened at C$61.86 on Wednesday. The company’s fifty day moving average price is C$68.87 and its 200 day moving average price is C$65.53. Cogeco Communications has a 1 year low of C$50.82 and a 1 year high of C$75.09. The stock has a market capitalization of C$1.86 billion, a P/E ratio of 7.89, a P/E/G ratio of 4.77 and a beta of 0.59. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were issued a dividend of $0.922 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.96%. Cogeco Communications’s dividend payout ratio is currently 43.62%.

Insider Buying and Selling

In related news, Director Robin Anne Bienenstock acquired 2,156 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the transaction, the director now directly owns 1 shares of the company’s stock, valued at C$68.86. The trade was a 99.85 % decrease in their position. Corporate insiders own 0.46% of the company’s stock.

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.