Cogeco Communications (TSE:CCA) Receives Sell Rating from Veritas Investment Research

Veritas Investment Research reiterated their sell rating on shares of Cogeco Communications (TSE:CCA – Get Rating) in a report published on Monday, BayStreet.CA reports.

A number of other research analysts have also recently issued reports on CCA. Scotiabank decreased their price objective on shares of Cogeco Communications from C$92.50 to C$90.00 in a research note on Monday, November 21st. Desjardins upgraded shares of Cogeco Communications from a hold rating to a buy rating in a report on Sunday, October 30th. CIBC dropped their price objective on shares of Cogeco Communications from C$100.00 to C$76.00 in a report on Wednesday, October 26th. Canaccord Genuity Group boosted their target price on shares of Cogeco Communications from C$70.00 to C$72.00 in a research report on Monday, October 31st. Finally, National Bankshares decreased their target price on shares of Cogeco Communications from C$100.00 to C$96.00 in a research report on Monday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of C$89.71.

Cogeco Communications Price Performance

CCA stock opened at C$69.58 on Monday. The stock has a 50-day moving average price of C$75.33 and a two-hundred day moving average price of C$77.04. The stock has a market cap of C$3.12 billion and a PE ratio of 7.65. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 146.81. Cogeco Communications has a 1 year low of C$62.35 and a 1 year high of C$114.66.

Cogeco Communications (TSE:CCA – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The company reported C$2.28 earnings per share for the quarter, beating the consensus estimate of C$2.15 by C$0.13. The company had revenue of C$725.45 million during the quarter, compared to the consensus estimate of C$729.90 million. Equities analysts forecast that Cogeco Communications will post 10.0299993 EPS for the current fiscal year.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 24th. Shareholders of record on Thursday, November 24th were given a $0.776 dividend. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.71. This represents a $3.10 annualized dividend and a yield of 4.46%. The ex-dividend date was Wednesday, November 9th. Cogeco Communications’s payout ratio is currently 31.02%.

Insider Buying and Selling at Cogeco Communications

In other news, Director Jacques Royer sold 433 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of C$69.76, for a total value of C$30,206.08. Following the transaction, the director now directly owns 524 shares in the company, valued at approximately C$36,554.24. In other news, Director Robin Anne Bienenstock bought 1,581 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were acquired at an average price of C$73.30 per share, with a total value of C$115,887.30. Following the transaction, the director now owns 2,471 shares in the company, valued at C$181,124.30. Also, Director Jacques Royer sold 433 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of C$69.76, for a total value of C$30,206.08. Following the sale, the director now owns 524 shares of the company’s stock, valued at C$36,554.24.

About Cogeco Communications

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Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.