Cogeco Communications Inc. (TSE:CCA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cogeco Communications Inc. (TSE:CCA) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$75.11.

A number of brokerages have recently issued reports on CCA. Royal Bank Of Canada boosted their price target on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 9th. Scotiabank decreased their price objective on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a report on Monday, April 13th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$71.00 to C$80.00 in a report on Wednesday, February 25th. TD Securities raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, TD raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and decreased their price objective for the stock from C$85.00 to C$83.00 in a report on Monday, April 13th.

Cogeco Communications Trading Up 1.4%

Shares of Cogeco Communications stock opened at C$67.22 on Tuesday. Cogeco Communications has a 52-week low of C$60.89 and a 52-week high of C$77.40. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 141.57. The company’s 50-day simple moving average is C$66.00 and its 200-day simple moving average is C$67.51. The firm has a market cap of C$2.82 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 4.77 and a beta of 0.94.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Thursday, April 9th. The company reported C$1.96 earnings per share (EPS) for the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%. The business had revenue of C$693.56 million for the quarter. As a group, equities research analysts anticipate that Cogeco Communications will post 8.4900498 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Investors of record on Thursday, May 7th were issued a dividend of $0.987 per share. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a yield of 5.9%. Cogeco Communications’s payout ratio is currently 51.32%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.