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

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

Cogeco Communications Trading Up 1.1 %

Shares of CCA opened at C$56.58 on Monday. The firm’s fifty day moving average is C$59.41 and its two-hundred day moving average is C$58.35. Cogeco Communications has a 52-week low of C$50.78 and a 52-week high of C$72.56. The stock has a market cap 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 (TSE:CCA) last announced its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping the consensus estimate of C$1.88 by C$0.33. The firm had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. Research analysts forecast that Cogeco Communications will post 8.4785185 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CCA shares. TD Securities decreased their price objective on Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Scotiabank dropped their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a research report on Monday, April 15th. Desjardins reduced their price objective on shares of 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. Canaccord Genuity Group cut their price target on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, BMO Capital Markets upped their price objective on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$69.69.

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.