Cogeco Communications (TSE:CCA) Sets New 52-Week Low – Time to Sell?

Cogeco Communications Inc. (TSE:CCA) shares hit a new 52-week low on Tuesday . The stock traded as low as C$56.86 and last traded at C$56.88, with a volume of 79029 shares. The stock had previously closed at C$57.68.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CCA. Royal Bank Of Canada decreased their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research note on Friday, July 10th. Desjardins set a C$68.00 target price on Cogeco Communications and gave the company a “hold” rating in a report on Wednesday, July 15th. Finally, National Bank Financial decreased their price objective on Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating on the stock in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.11.

Cogeco Communications Trading Down 1.4%

The firm has a fifty day moving average of C$60.03 and a 200-day moving average of C$63.90. The stock has a market capitalization of C$2.36 billion, a price-to-earnings ratio of -2.12, a P/E/G ratio of 4.77 and a beta of 0.97. The company has a debt-to-equity ratio of 241.79, a quick ratio of 0.49 and a current ratio of 0.47.

Cogeco Communications (TSE:CCA) last posted its earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. The business had revenue of C$696.68 million for the quarter. As a group, equities analysts predict that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, August 12th were issued a dividend of $0.987 per share. This represents a $3.95 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Cogeco Communications’s dividend payout ratio (DPR) is currently -14.69%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.