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

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Monday, January 27th,TickerTech Dividends reports. Investors 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 Up 0.7 %

Shares of TSE CCA opened at C$62.21 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The company has a 50-day moving average of C$67.59 and a 200 day moving average of C$66.02. The stock has a market cap of C$1.87 billion, a PE ratio of 7.93, a P/E/G ratio of 4.77 and a beta of 0.59. Cogeco Communications has a 12-month low of C$50.82 and a 12-month high of C$75.09.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Thursday, October 31st. The company reported C$2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $2.19 EPS. As a group, sell-side analysts predict that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jacques Royer sold 657 shares of the stock in a transaction dated 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 transaction, the director now directly owns 1 shares of the company’s stock, valued at C$68.86. This represents a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock bought 2,156 shares of Cogeco Communications stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, with a total value of C$150,189.33. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CCA shares. TD Securities boosted their price objective on shares of Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and increased their price target for the stock from C$65.00 to C$77.00 in a research note on Monday, November 4th. BMO Capital Markets increased their target price on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Royal Bank of Canada raised their target price on shares of Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. Finally, CIBC decreased their price target on Cogeco Communications from C$73.00 to C$71.00 in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cogeco Communications has a consensus rating of “Moderate Buy” and a consensus price target of C$76.17.

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.