Cogeco Communications Inc. (TSE:CCA) Director Sells C$30,206.08 in Stock

Cogeco Communications Inc. (TSE:CCAGet Rating) Director Jacques Royer sold 433 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of C$69.76, for a total transaction of C$30,206.08. Following the transaction, the director now directly owns 524 shares of the company’s stock, valued at approximately C$36,554.24.

Cogeco Communications Stock Performance

TSE:CCA opened at C$72.33 on Monday. The company has a debt-to-equity ratio of 146.81, a current ratio of 0.54 and a quick ratio of 0.49. The firm has a 50-day moving average of C$71.49 and a two-hundred day moving average of C$84.27. The stock has a market cap of C$3.30 billion and a P/E ratio of 7.96. Cogeco Communications Inc. has a 1-year low of C$62.35 and a 1-year high of C$114.66.

Cogeco Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Thursday, November 24th will be paid a $0.776 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $3.10 annualized dividend and a dividend yield of 4.29%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.71. Cogeco Communications’s dividend payout ratio (DPR) is presently 31.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CCA shares. Canaccord Genuity Group raised their price objective on shares of Cogeco Communications from C$70.00 to C$72.00 in a report on Monday, October 31st. National Bankshares lowered their target price on shares of Cogeco Communications from C$100.00 to C$96.00 in a report on Monday, October 31st. BMO Capital Markets lowered their target price on shares of Cogeco Communications from C$120.00 to C$100.00 in a report on Monday, September 12th. CIBC cut their target price on shares of Cogeco Communications from C$100.00 to C$76.00 in a research report on Wednesday, October 26th. Finally, Scotiabank lowered shares of Cogeco Communications from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$102.00 to C$92.50 in a research report on Monday, October 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$96.36.

Cogeco Communications Company Profile

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Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.

Further Reading

Insider Buying and Selling by Quarter for Cogeco Communications (TSE:CCA)

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