Cogeco Communications Inc. Declares Quarterly Dividend of $0.92 (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Monday, January 27th,TickerTech Dividends reports. Investors of record on Monday, February 10th will be paid a dividend of 0.922 per share on Monday, February 10th. This represents a $3.69 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date is Monday, January 27th.

Cogeco Communications Stock Performance

Shares of Cogeco Communications stock opened at C$62.21 on Friday. The stock has a market capitalization of C$1.87 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 4.77 and a beta of 0.59. Cogeco Communications has a 12 month low of C$50.82 and a 12 month high of C$75.09. The firm’s fifty day simple moving average is C$67.59 and its 200-day simple moving average is C$66.02. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Thursday, October 31st. The company reported C$2.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.79 by C$0.56. Cogeco Communications had a return on equity of 10.52% and a net margin of 11.44%. During the same period in the previous year, the company posted $2.19 EPS. As a group, equities analysts forecast that Cogeco Communications will post 8.4900498 earnings per share for the current year.

Insider Transactions at Cogeco Communications

In other news, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction 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 transaction, the director now owns 1 shares in the company, valued at approximately C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock bought 2,156 shares of the business’s stock in a transaction on Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BMO Capital Markets increased their price target on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. TD Securities lifted their target price on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Scotiabank lowered their price objective on shares of Cogeco Communications from C$77.50 to C$75.50 in a research note on Wednesday, January 15th. Royal Bank of Canada increased their price objective on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Finally, Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and upped their price target for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cogeco Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.17.

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.