Cogeco Communications Inc. (TSE:CCA) Director Robin Anne Bienenstock Purchases 2,156 Shares

Cogeco Communications Inc. (TSE:CCA) Director Robin Anne Bienenstock acquired 2,156 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, for a total transaction of C$150,189.33.

Cogeco Communications Trading Up 4.7 %

Shares of Cogeco Communications stock traded up C$3.17 during trading hours on Friday, reaching C$70.00. The stock had a trading volume of 84,373 shares, compared to its average volume of 74,934. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. Cogeco Communications Inc. has a 1 year low of C$50.82 and a 1 year high of C$72.91. The firm has a market capitalization of C$2.10 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 4.77 and a beta of 0.59. The firm has a 50 day simple moving average of C$69.60 and a two-hundred day simple moving average of C$62.26.

Cogeco Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were given a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a yield of 5.27%. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. Cogeco Communications’s dividend payout ratio is 43.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CCA shares. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Royal Bank of Canada raised their target price on shares of Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Scotiabank lifted their target price on shares of Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. TD Securities increased their price target on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Finally, BMO Capital Markets lifted their price objective on Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Five equities research 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 data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Moderate Buy” and an average target price of C$75.50.

Cogeco Communications Company Profile

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.