Cogeco Communications Inc. (TSE:CCA) to Issue Quarterly Dividend of $0.85

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Friday, April 12th, Zacks reports. Shareholders of record on Thursday, April 25th will be paid a dividend of 0.854 per share on Thursday, May 9th. This represents a $3.42 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Wednesday, April 24th.

Cogeco Communications Stock Up 1.1 %

Shares of Cogeco Communications stock opened at C$56.58 on Monday. The stock’s fifty day moving average is C$59.41 and its 200-day moving average is C$58.35. The firm has a market capitalization of C$1.71 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. 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 has a 12-month low of C$50.78 and a 12-month high of C$72.56.

Cogeco Communications (TSE:CCA) last issued its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.33. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. The firm had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million. Equities analysts anticipate that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCA. Canaccord Genuity Group decreased their target price on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Desjardins cut their price target on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a report on Monday, April 15th. TD Securities cut their price target on Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Scotiabank dropped their target price on Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a report on Monday, April 15th. Finally, Royal Bank of Canada boosted their price target on Cogeco Communications from C$76.00 to C$79.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Cogeco Communications currently has a consensus rating of “Hold” and a consensus price target of C$69.69.

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.