Cogeco Communications Inc. (TSE:CCA) Director Robin Anne Bienenstock Purchases 2,156 Shares

Cogeco Communications Inc. (TSE:CCA) Director Robin Anne Bienenstock purchased 2,156 shares of Cogeco Communications stock in a transaction that occurred on Friday, November 29th. The stock was acquired at an average cost of C$69.66 per share, with a total value of C$150,189.33.

Cogeco Communications Stock Performance

TSE CCA traded up C$3.17 during midday trading on Friday, hitting C$70.00. The company had a trading volume of 84,373 shares, compared to its average volume of 74,934. The firm has a fifty day simple moving average of C$69.60 and a two-hundred day simple moving average of C$62.26. The stock has a market cap of C$2.10 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. Cogeco Communications Inc. has a fifty-two week low of C$50.82 and a fifty-two week high of C$72.91.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were paid a $0.922 dividend. This represents a $3.69 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Thursday, November 14th. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s payout ratio is currently 43.62%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CCA shares. Royal Bank of Canada upped their price target on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Scotiabank lifted their price target on Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. BMO Capital Markets upped their price objective on Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and increased their target price for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. Finally, National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$75.50.

Cogeco Communications Company Profile

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.