Scotiabank Lowers Cogeco Communications (TSE:CCA) Price Target to C$75.50

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

CCA has been the subject of several other reports. Royal Bank of Canada lifted their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. BMO Capital Markets lifted their price target on shares of Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$65.00 to C$77.00 in a research note on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$64.00 to C$80.00 in a research note on Friday, September 20th. Finally, TD Securities raised their price target on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$76.17.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock opened at C$61.86 on Wednesday. The stock has a 50 day moving average price of C$68.87 and a 200-day moving average price of C$65.53. Cogeco Communications has a one year low of C$50.82 and a one year high of C$75.09. The stock has a market cap of C$1.86 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41.

Cogeco Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were issued a dividend of $0.922 per share. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 annualized dividend 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 presently 43.62%.

Insider Buying and Selling at Cogeco Communications

In other Cogeco Communications news, Director Robin Anne Bienenstock purchased 2,156 shares of the stock in a transaction dated Friday, November 29th. The stock was purchased at an average price of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the transaction, the director now directly owns 1 shares in the company, valued at approximately C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. 0.46% of the stock is currently owned by corporate insiders.

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.