Cogeco Communications Inc. (TSE:CCA) Director Jacques Royer Sells 657 Shares

Cogeco Communications Inc. (TSE:CCA) Director Jacques Royer sold 657 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the sale, the director now directly owns 1 shares of the company’s stock, valued at C$68.86. This trade represents a 99.85 % decrease in their position.

Cogeco Communications Stock Performance

The company’s fifty day moving average price is C$69.31 and its 200-day moving average price is C$61.62. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The stock has a market cap of C$2.07 billion, a P/E ratio of 8.77, a PEG ratio of 4.77 and a beta of 0.59. Cogeco Communications Inc. has a one year low of C$50.82 and a one year high of C$72.91.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th will be paid a $0.922 dividend. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a dividend yield of ∞. Cogeco Communications’s dividend payout ratio is presently 43.62%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCA. TD Securities lifted their price target on shares of Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Scotiabank boosted their target price on shares of Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday, November 4th. Canaccord Genuity Group upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and increased their price target for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$64.00 to C$80.00 in a research note on Friday, September 20th. Finally, Royal Bank of Canada upped their target price on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$75.50.

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.