Cogeco (TSE:CGO) Reaches New 12-Month High – Should You Buy?

Cogeco Inc. (TSE:CGO)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$72.66 and last traded at C$72.32, with a volume of 1028 shares changing hands. The stock had previously closed at C$72.46.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CGO shares. Canadian Imperial Bank of Commerce increased their price target on Cogeco from C$61.00 to C$66.00 in a research note on Friday, January 16th. TD Securities increased their target price on shares of Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$93.00.

Cogeco Price Performance

The company has a market cap of C$679.23 million, a price-to-earnings ratio of 8.30, a P/E/G ratio of -0.28 and a beta of 0.73. The company has a current ratio of 0.40, a quick ratio of 0.51 and a debt-to-equity ratio of 605.15. The business has a 50-day moving average price of C$66.69 and a 200 day moving average price of C$62.84.

Cogeco (TSE:CGO) last announced its earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share (EPS) for the quarter. Cogeco had a return on equity of 11.28% and a net margin of 3.00%.The company had revenue of C$735.64 million for the quarter. As a group, research analysts expect that Cogeco Inc. will post 11.054717 earnings per share for the current fiscal year.

Cogeco Company Profile

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.