BMO Capital Markets Raises Cogeco Communications (TSE:CCA) Price Target to C$70.00

Cogeco Communications (TSE:CCA) had its target price raised by BMO Capital Markets from C$65.00 to C$70.00 in a research report report published on Thursday, BayStreet.CA reports.

Other research analysts have also issued reports about the company. Desjardins increased their target price on Cogeco Communications from C$64.00 to C$69.00 and gave the stock a hold rating in a research report on Monday, July 15th. Bank of America raised Cogeco Communications from an underperform rating to a buy rating and increased their target price for the stock from C$60.00 to C$65.00 in a research report on Wednesday, July 17th. Royal Bank of Canada increased their target price on Cogeco Communications from C$73.00 to C$76.00 and gave the stock a sector perform rating in a research report on Monday, July 15th. Finally, TD Securities raised their price objective on Cogeco Communications from C$80.00 to C$85.00 and gave the company a buy rating in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of C$69.39.

Cogeco Communications Price Performance

Shares of TSE:CCA opened at C$65.09 on Thursday. The business’s fifty day moving average price is C$61.24 and its two-hundred day moving average price is C$58.16. The stock has a market cap of C$1.95 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 4.77 and a beta of 0.57. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. Cogeco Communications has a one year low of C$50.78 and a one year high of C$66.21.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Thursday, July 11th. The company reported C$2.45 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.72. Cogeco Communications had a return on equity of 10.52% and a net margin of 11.44%. The company had revenue of C$750.58 million for the quarter, compared to analyst estimates of C$751.50 million. On average, analysts forecast that Cogeco Communications will post 8.2150127 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were paid a $0.854 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.42 dividend on an annualized basis and a yield of 5.25%. Cogeco Communications’s dividend payout ratio (DPR) is 43.62%.

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.