Cogeco Communications (TSE:CCA) Price Target Raised to C$109.00

Cogeco Communications (TSE:CCA) had its target price boosted by CIBC from C$103.00 to C$109.00 in a research report released on Thursday morning, BayStreet.CA reports.

A number of other research firms have also recently issued reports on CCA. Royal Bank of Canada reissued a hold rating and set a $0.35 price objective on shares of DB Commodity Double Short ETN in a research report on Friday, July 12th. Desjardins boosted their price target on Cogeco Communications from C$96.00 to C$99.00 in a research report on Friday, July 12th. BMO Capital Markets boosted their price target on Cogeco Communications from C$95.00 to C$100.00 in a research report on Friday, July 12th. Canaccord Genuity boosted their price target on Cogeco Communications from C$97.00 to C$104.00 and gave the stock a buy rating in a research report on Friday, July 12th. Finally, Echelon Wealth Partners boosted their price target on Cogeco Communications from C$98.00 to C$106.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of C$100.00.

CCA opened at C$104.83 on Thursday. The firm has a market capitalization of $5.26 billion and a PE ratio of 13.24. Cogeco Communications has a 1 year low of C$61.68 and a 1 year high of C$107.22. The company has a current ratio of 1.80, a quick ratio of 1.71 and a debt-to-equity ratio of 136.92. The company’s fifty day moving average price is C$95.60.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Wednesday, July 10th. The company reported C$1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.77 by C$0.19. The firm had revenue of C$587.35 million for the quarter, compared to analyst estimates of C$585.50 million. As a group, research analysts forecast that Cogeco Communications will post 7.6699999 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, August 7th will be given a $0.525 dividend. The ex-dividend date is Tuesday, July 23rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.00%. Cogeco Communications’s dividend payout ratio is currently 26.53%.

In other news, Senior Officer Pierre Maheux sold 274 shares of Cogeco Communications stock in a transaction dated Monday, July 15th. The stock was sold at an average price of C$105.35, for a total value of C$28,865.90. Following the transaction, the insider now directly owns 1,934 shares in the company, valued at C$203,746.90. Also, Director Louis Audet sold 15,028 shares of Cogeco Communications stock in a transaction dated Monday, July 15th. The stock was sold at an average price of C$104.60, for a total value of C$1,571,928.80. Following the completion of the transaction, the director now owns 90,980 shares in the company, valued at C$9,516,508.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.

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Analyst Recommendations for Cogeco Communications (TSE:CCA)

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