Cogeco Communications (TSE:CCA) Price Target Raised to C$77.00 at Canaccord Genuity Group

Cogeco Communications (TSE:CCA) had its price objective increased by Canaccord Genuity Group from C$76.00 to C$77.00 in a research report sent to investors on Friday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

CCA has been the topic of a number of other reports. Royal Bank of Canada raised their target price on shares of Cogeco Communications from C$77.00 to C$78.00 and gave the company a “sector perform” rating in a research note on Wednesday. Scotiabank dropped their target price on Cogeco Communications from C$75.50 to C$75.00 and set a “sector perform” rating for the company in a report on Friday. Finally, CIBC cut their target price on shares of Cogeco Communications from C$73.00 to C$71.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$76.10.

Cogeco Communications Stock Performance

Cogeco Communications stock opened at C$62.53 on Friday. The firm’s 50 day simple moving average is C$66.12 and its 200 day simple moving average is C$67.43. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. Cogeco Communications has a 1-year low of C$50.82 and a 1-year high of C$75.09. The firm has a market capitalization of C$2.63 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59.

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 10th were issued a $0.922 dividend. This represents a $3.69 annualized dividend and a yield of 5.90%. The ex-dividend date was Monday, January 27th. Cogeco Communications’s dividend payout ratio is currently 41.40%.

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.