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

Cogeco Communications Inc. (TSE:CCA) has earned an average rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$69.69.

A number of analysts have weighed in on CCA shares. Canaccord Genuity Group cut their price objective on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a report on Monday, April 15th. TD Securities cut their price objective on shares of Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Scotiabank cut their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a report on Monday, April 15th. BMO Capital Markets lifted their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a “market perform” rating in a report on Friday, January 12th. Finally, Royal Bank of Canada boosted their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 16th.

Cogeco Communications Price Performance

Cogeco Communications stock opened at C$55.42 on Monday. Cogeco Communications has a 12-month low of C$50.78 and a 12-month high of C$72.56. The stock has a market cap of C$1.67 billion, a P/E ratio of 6.66, a PEG ratio of 4.77 and a beta of 0.47. The company has a 50-day moving average price of C$58.14 and a 200 day moving average price of C$57.93. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The company had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million. Sell-side analysts anticipate that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, April 25th will be paid a dividend of $0.854 per share. This represents a $3.42 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Wednesday, April 24th. Cogeco Communications’s dividend payout ratio (DPR) 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.