Cogeco Communications (TSE:CCA) Reaches New 1-Year High at $69.19

Cogeco Communications Inc. (TSE:CCA)’s share price hit a new 52-week high on Tuesday . The company traded as high as C$69.19 and last traded at C$69.03, with a volume of 23547 shares changing hands. The stock had previously closed at C$68.15.

Analysts Set New Price Targets

A number of equities research analysts have commented on CCA shares. TD Securities lifted their target price on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. BMO Capital Markets raised their price objective on shares of Cogeco Communications from C$65.00 to C$70.00 in a report on Thursday, September 5th. National Bankshares raised 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. Finally, Royal Bank of Canada boosted their price objective on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the company a “sector perform” rating in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cogeco Communications currently has an average rating of “Moderate Buy” and a consensus target price of C$71.28.

Cogeco Communications Stock Performance

The business’s fifty day moving average is C$64.49 and its two-hundred day moving average is C$58.61. The stock has a market capitalization of C$2.08 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 4.77 and a beta of 0.57. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Thursday, July 11th. The company reported C$2.45 EPS for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.72. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. The business had revenue of C$750.58 million during the quarter, compared to analysts’ expectations of C$751.50 million. As a group, research analysts anticipate that Cogeco Communications Inc. will post 8.2156863 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were given a $0.854 dividend. The ex-dividend date was Thursday, July 25th. This represents a $3.42 dividend on an annualized basis and a yield of 4.94%. Cogeco Communications’s dividend payout ratio is presently 43.62%.

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.