Cogeco Communications (TSE:CCA) PT Raised to C$106.00 at Echelon Wealth Partners

Cogeco Communications (TSE:CCA) had its target price upped by Echelon Wealth Partners from C$98.00 to C$106.00 in a report released on Tuesday morning, BayStreet.CA reports. Echelon Wealth Partners currently has a buy rating on the stock.

CCA has been the topic of a number of other reports. National Bank Financial increased their price objective on shares of Wesdome Gold Mines from C$6.00 to C$6.25 and gave the company an outperform rating in a research note on Friday, July 12th. Canaccord Genuity increased their price objective on shares of Cogeco Communications from C$97.00 to C$104.00 and gave the company a buy rating in a research note on Friday, July 12th. Royal Bank of Canada restated a hold rating and issued a $0.35 target price on shares of DB Commodity Double Short ETN in a research note on Friday, July 12th. CIBC upgraded shares of Alaris Royalty to a buy rating in a research note on Friday, July 12th. Finally, Desjardins raised their target price on shares of Cogeco Communications from C$96.00 to C$99.00 in a research note on Friday, July 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of C$100.00.

TSE CCA opened at C$104.83 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.71 and a debt-to-equity ratio of 136.92. The company’s 50 day simple moving average is C$95.60. Cogeco Communications has a 52-week low of C$61.68 and a 52-week high of C$107.22. The company has a market capitalization of $5.26 billion and a P/E ratio of 15.02.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, August 7th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, July 23rd. This represents a $2.10 annualized dividend and a yield of 2.00%. Cogeco Communications’s dividend payout ratio (DPR) is 29.37%.

In other Cogeco Communications news, Senior Officer Pierre Maheux sold 274 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of C$105.35, for a total value of C$28,865.90. Following the completion of the sale, the insider now directly owns 1,934 shares in the company, valued at C$203,746.90. Also, Director Louis Audet sold 15,028 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of C$104.60, for a total transaction of C$1,571,928.80. Following the completion of the sale, the director now owns 90,980 shares of the company’s stock, valued at C$9,516,508.

About Cogeco Communications

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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