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. Stockholders 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 Performance

TSE CCA opened at C$62.21 on Friday. The firm’s 50 day simple moving average is C$67.59 and its 200 day simple moving average is C$66.02. The firm has a market capitalization of C$1.87 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 4.77 and a beta of 0.59. 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 has a 1 year low of C$50.82 and a 1 year high of C$75.09.

Cogeco Communications (TSE:CCA) last issued its earnings results on Thursday, October 31st. The company reported C$2.35 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.79 by C$0.56. Cogeco Communications had a return on equity of 10.52% and a net margin of 11.44%. During the same period in the prior year, the firm posted $2.19 EPS. As a group, research analysts expect that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their target price on Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Scotiabank lowered their price objective on shares of Cogeco Communications from C$77.50 to C$75.50 in a research report on Wednesday, January 15th. TD Securities increased their price objective 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 boosted 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 dropped their price target on Cogeco Communications from C$73.00 to C$71.00 in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cogeco Communications presently has an average rating of “Moderate Buy” and an average price target of C$76.17.

Insiders Place Their Bets

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

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.