Cogeco Communications Inc (TSE:CCA) Given Outperform Rating at Scotiabank

Scotiabank reaffirmed their outperform rating on shares of Cogeco Communications Inc (TSE:CCA) in a research note published on Tuesday, July 4th, reports. Scotiabank currently has a C$78.00 price objective on the stock.

Several other research analysts have also recently weighed in on the stock. Barclays PLC cut shares of Cogeco Communications from an equal weight rating to an underweight rating and increased their price target for the company from C$70.00 to C$75.00 in a report on Tuesday, April 11th. TD Securities raised their target price on shares of Cogeco Communications from C$78.00 to C$80.00 and gave the stock a hold rating in a report on Monday, April 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of C$82.50.

Cogeco Communications (TSE:CCA) opened at 87.25 on Tuesday. The firm has a 50-day moving average price of $81.69 and a 200-day moving average price of $75.94. Cogeco Communications has a one year low of $60.62 and a one year high of $88.55. The stock has a market cap of $4.30 billion and a price-to-earnings ratio of 14.27.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, August 10th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, July 25th. This represents a $1.72 annualized dividend and a yield of 1.97%.

In other Cogeco Communications news, insider René Guimond sold 900 shares of Cogeco Communications stock in a transaction on Thursday, July 20th. The shares were sold at an average price of C$87.44, for a total value of C$78,696.00.

Cogeco Communications Company Profile

Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.

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