Cogeco Communications Inc. (TSE:CCA) Director Jacques Royer Sells 657 Shares

Cogeco Communications Inc. (TSE:CCA) Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the sale, the director now owns 1 shares in the company, valued at approximately C$68.86. The trade was a 99.85 % decrease in their position.

Cogeco Communications Stock Performance

CCA stock opened at C$69.28 on Friday. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. The firm has a market cap of C$2.08 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 4.77 and a beta of 0.59. The firm has a 50-day simple moving average of C$69.46 and a two-hundred day simple moving average of C$61.82. Cogeco Communications Inc. has a one year low of C$50.82 and a one year high of C$72.91.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th will be given a $0.922 dividend. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.32%. Cogeco Communications’s dividend payout ratio (DPR) is presently 43.62%.

Wall Street Analyst Weigh In

Several research firms have commented on CCA. Scotiabank increased their price objective on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$65.00 to C$77.00 in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$75.50.

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.