Cogeco Communications Inc. (TSE:CCA) Raises Dividend to $0.92 Per Share

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Shareholders of record on Thursday, November 14th will be paid a dividend of 0.922 per share on Thursday, November 28th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85.

Cogeco Communications Stock Down 0.6 %

Shares of TSE:CCA traded down C$0.46 during midday trading on Tuesday, reaching C$71.18. The company had a trading volume of 2,272 shares, compared to its average volume of 76,322. The stock has a market capitalization of C$2.14 billion, a P/E ratio of 9.14, a PEG ratio of 4.77 and a beta of 0.59. The stock’s fifty day moving average price is C$68.53 and its 200-day moving average price is C$60.95. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. Cogeco Communications has a one year low of C$50.78 and a one year high of C$72.91.

Analyst Ratings Changes

Several brokerages have recently commented on CCA. Royal Bank of Canada increased their price target on shares of Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. 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 report on Wednesday, July 17th. Desjardins boosted their price target on Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a report on Monday, July 15th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, TD Securities lifted their price objective on shares of Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, five 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of C$75.50.

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.