Cogeco Communications Inc. to Issue Quarterly Dividend of $0.92 (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Monday, January 27th,TickerTech Dividends reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.922 per share on Monday, February 10th. This represents a $3.69 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Monday, January 27th.

Cogeco Communications Stock Performance

Cogeco Communications stock opened at C$62.21 on Friday. The stock’s 50 day moving average is C$67.59 and its 200 day moving average is C$66.02. The company has a market capitalization of C$1.87 billion, a P/E ratio of 7.93, a PEG ratio of 4.77 and a beta of 0.59. Cogeco Communications has a twelve month low of C$50.82 and a twelve month high of C$75.09. 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 (TSE:CCA) last announced its quarterly earnings results on Thursday, October 31st. The company reported C$2.35 earnings per share for the quarter, beating the consensus estimate of C$1.79 by C$0.56. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. During the same quarter in the prior year, the company earned $2.19 earnings per share. On average, equities research analysts predict that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

Insider Transactions at Cogeco Communications

In related news, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total value of C$45,241.02. Following the completion of the transaction, the director now directly owns 1 shares in the company, valued at approximately C$68.86. The trade was a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock purchased 2,156 shares of Cogeco Communications stock in a transaction dated Friday, November 29th. The stock was bought at an average price of C$69.66 per share, with a total value of C$150,189.33. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CCA shares. Royal Bank of Canada increased their price target on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and increased their price objective for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. BMO Capital Markets upped their target price on shares of Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Scotiabank reduced their price target on shares of Cogeco Communications from C$77.50 to C$75.50 in a research report on Wednesday, January 15th. Finally, TD Securities boosted their price target on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$76.17.

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.