Cogeco Communications (TSE:CCA) Raised to “Strong-Buy” at National Bank Financial

National Bank Financial upgraded shares of Cogeco Communications (TSE:CCA) from a hold rating to a strong-buy rating in a research report released on Thursday morning, Zacks.com reports.

Several other brokerages have also weighed in on CCA. Desjardins upped their price objective 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. Bank of America upgraded shares of Cogeco Communications from an underperform rating to a buy rating and raised their price objective for the company from C$60.00 to C$65.00 in a research report on Wednesday, July 17th. BMO Capital Markets lifted their price objective on shares of Cogeco Communications from C$65.00 to C$70.00 in a research note on Thursday, September 5th. National Bankshares raised shares of Cogeco Communications from a sector perform rating to an outperform rating and increased their target price for the company from C$64.00 to C$80.00 in a research note on Friday. Finally, TD Securities lifted their price target on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the stock a buy rating in a research report on Monday, July 15th. Six research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$71.28.

Cogeco Communications Stock Up 1.0 %

Cogeco Communications stock opened at C$68.12 on Thursday. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$68.98. The stock has a market cap of C$2.04 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 4.77 and a beta of 0.57. The company’s 50-day moving average price is C$64.23 and its two-hundred day moving average price is C$58.57. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Thursday, July 11th. The company reported C$2.45 EPS for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.72. The business had revenue of C$750.58 million for the quarter, compared to analyst estimates of C$751.50 million. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. On average, analysts expect that Cogeco Communications will post 8.2156863 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were issued a dividend of $0.854 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.01%. Cogeco Communications’s dividend payout ratio is 43.62%.

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.