Cogeco Communications (TSE:CCA) Downgraded by TD Securities to Hold

TD Securities downgraded shares of Cogeco Communications (TSE:CCA) from a buy rating to a hold rating in a report issued on Tuesday morning, BayStreet.CA reports. TD Securities currently has C$110.00 target price on the stock.

Several other research analysts also recently commented on the stock. BMO Capital Markets lifted their target price on shares of Cogeco Communications from C$95.00 to C$100.00 in a research note on Friday, July 12th. Canaccord Genuity lifted their target price on shares of Cogeco Communications from C$97.00 to C$104.00 and gave the stock a buy rating in a research note on Friday, July 12th. Royal Bank of Canada lifted their target price on shares of Cogeco Communications from C$96.00 to C$102.00 and gave the stock a sector perform rating in a research note on Friday, July 12th. Echelon Wealth Partners lifted their target price on shares of Cogeco Communications from C$98.00 to C$106.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Finally, Desjardins lifted their target price on shares of Cogeco Communications from C$96.00 to C$99.00 in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of C$101.11.

Shares of TSE CCA opened at C$104.56 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 1.80 and a debt-to-equity ratio of 136.92. Cogeco Communications has a 52 week low of C$61.68 and a 52 week high of C$107.34. The firm’s fifty day moving average is C$103.75 and its 200 day moving average is C$91.60. The company has a market cap of $5.22 billion and a price-to-earnings ratio of 13.21.



Cogeco Communications (TSE:CCA) last issued its earnings results on Wednesday, July 10th. The company reported C$1.96 EPS for the quarter, topping the consensus estimate of C$1.77 by C$0.19. The firm had revenue of C$587.35 million during the quarter, compared to analysts’ expectations of C$585.50 million. Equities research analysts anticipate that Cogeco Communications will post 7.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, August 7th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Tuesday, July 23rd. Cogeco Communications’s dividend payout ratio (DPR) is currently 25.90%.

In related news, Director Louis Audet sold 15,028 shares of Cogeco Communications stock in a transaction on Monday, July 15th. The shares were sold at an average price of C$104.60, for a total value of C$1,571,928.80. Following the sale, the director now owns 90,980 shares in the company, valued at C$9,516,508. Also, Senior Officer Pierre Maheux sold 274 shares of Cogeco Communications stock in a transaction on Monday, July 15th. The shares were sold at an average price of C$105.35, for a total transaction of C$28,865.90. Following the completion of the sale, the insider now owns 1,934 shares in the company, valued at approximately C$203,746.90. In the last quarter, insiders sold 17,363 shares of company stock worth $1,819,040.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.

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Analyst Recommendations for Cogeco Communications (TSE:CCA)

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