Cogeco Communications (TSE:CCA) Price Target Cut to C$75.50 by Analysts at Scotiabank

Cogeco Communications (TSE:CCA) had its price objective reduced by Scotiabank from C$77.50 to C$75.50 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. Scotiabank also issued estimates for Cogeco Communications’ FY2025 earnings at $8.32 EPS.

A number of other analysts also recently issued reports on the stock. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. BMO Capital Markets raised their target price on shares of Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. TD Securities boosted their target price on shares of Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Royal Bank of Canada raised their price target on Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Moderate Buy” and an average price target of C$76.17.

Cogeco Communications Trading Down 2.5 %

Shares of TSE:CCA opened at C$61.86 on Wednesday. Cogeco Communications has a 1 year low of C$50.82 and a 1 year high of C$75.09. The stock’s fifty day moving average price is C$68.87 and its 200-day moving average price is C$65.53. The company has a market cap of C$1.86 billion, a P/E ratio of 7.89, a PEG ratio of 4.77 and a beta of 0.59. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were issued a $0.922 dividend. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend was Thursday, November 14th. Cogeco Communications’s dividend payout ratio (DPR) is currently 43.62%.

Insider Buying and Selling at Cogeco Communications

In other news, Director Jacques Royer sold 657 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total value of C$45,241.02. Following the completion of the transaction, the director now 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 the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were acquired at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. 0.46% of the stock is currently owned by corporate insiders.

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.