Royal Bank of Canada Boosts Cogeco Communications (TSE:CCA) Price Target to C$79.00

Cogeco Communications (TSE:CCA) had its price target raised by Royal Bank of Canada from C$76.00 to C$79.00 in a research report released on Tuesday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

CCA has been the subject of a number of other reports. CIBC decreased their target price on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research note on Monday, December 18th. BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a market perform rating in a research note on Friday, January 12th. Desjardins decreased their target price on shares of Cogeco Communications from C$68.00 to C$64.00 and set a hold rating for the company in a research note on Monday. Canaccord Genuity Group decreased their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research note on Monday. Finally, TD Securities decreased their target price on shares of Cogeco Communications from C$93.00 to C$90.00 and set a buy rating for the company in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cogeco Communications currently has a consensus rating of Hold and an average target price of C$69.69.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$55.97 on Tuesday. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56. The firm has a market cap of C$1.69 billion, a P/E ratio of 6.70, a PEG ratio of 4.77 and a beta of 0.47. The company has a 50 day moving average of C$59.60 and a 200 day moving average of C$58.42. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 136.39.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The company had revenue of C$730.50 million during the quarter, compared to analyst estimates of C$735.00 million. As a group, research analysts expect that Cogeco Communications will post 8.4785185 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 9th will be paid a $0.854 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.42 annualized dividend and a dividend yield of 6.10%. Cogeco Communications’s dividend payout ratio (DPR) is 41.11%.

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.