Cogeco Communications (TSE:CCA) Price Target Raised to C$85.00

Cogeco Communications (TSE:CCA) had its price target hoisted by TD Securities from C$80.00 to C$85.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

CCA has been the subject of a number of other reports. Desjardins increased their price target on Cogeco Communications from C$64.00 to C$69.00 and gave the company a hold rating in a research report on Monday. Scotiabank decreased their price target on Cogeco Communications from C$77.00 to C$73.50 and set a sector perform rating for the company in a research report on Monday, April 15th. Royal Bank of Canada increased their price target on Cogeco Communications from C$73.00 to C$76.00 and gave the company a sector perform rating in a research report on Monday. Finally, Canaccord Genuity Group decreased their price target on Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research report on Monday, April 15th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of C$68.83.

Cogeco Communications Stock Up 10.0 %

CCA stock opened at C$61.59 on Monday. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$68.35. The company has a quick ratio of 0.49, a current ratio of 0.55 and a debt-to-equity ratio of 143.84. The stock’s 50 day moving average is C$53.68 and its 200-day moving average is C$57.46. The firm has a market capitalization of C$1.86 billion, a PE ratio of 7.40, a P/E/G ratio of 4.77 and a beta of 0.47.

Cogeco Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th will be given a $0.854 dividend. This represents a $3.42 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend is Thursday, July 25th. Cogeco Communications’s dividend payout ratio 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.