Analysts Set Cogeco Communications Inc. (TSE:CCA) Price Target at C$68.44

Shares of Cogeco Communications Inc. (TSE:CCA) have been given an average recommendation of “Hold” by the nine analysts that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$68.44.

Several analysts recently weighed in on the stock. Royal Bank of Canada boosted 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. 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. Canaccord Genuity Group cut their price objective on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. TD Securities decreased their target price on shares of Cogeco Communications from C$90.00 to C$80.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Desjardins dropped their price target on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research report on Monday, April 15th.

Cogeco Communications Price Performance

Cogeco Communications stock opened at C$51.59 on Tuesday. The stock has a 50-day moving average price of C$54.15 and a two-hundred day moving average price of C$57.76. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.56. The company has a market capitalization of C$1.56 billion, a PE ratio of 6.20, a P/E/G ratio of 4.77 and a beta of 0.47. The company has a current ratio of 0.55, a quick ratio of 0.49 and a debt-to-equity ratio of 143.84.

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. Cogeco Communications had a net margin of 12.34% and a return on equity of 11.41%. The business had revenue of C$730.50 million during the quarter, compared to analyst estimates of C$735.00 million. Analysts expect that Cogeco Communications will post 8.341791 EPS for the current year.

Cogeco Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, April 25th were given a $0.854 dividend. This represents a $3.42 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date was Wednesday, April 24th. Cogeco Communications’s payout ratio is currently 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.