Cogeco Communications (TSE:CCA) Reaches New 1-Year High at $66.21

Cogeco Communications Inc. (TSE:CCA) reached a new 52-week high on Monday . The stock traded as high as C$66.21 and last traded at C$66.10, with a volume of 12073 shares trading hands. The stock had previously closed at C$65.09.

Analysts Set New Price Targets

CCA has been the subject of a number of recent analyst reports. Bank of America raised Cogeco Communications from an “underperform” rating to a “buy” rating and lifted their price objective for the company from C$60.00 to C$65.00 in a research report on Wednesday, July 17th. TD Securities upped their target price on Cogeco Communications from C$80.00 to C$85.00 and gave the company a “buy” rating in a research report on Monday, July 15th. BMO Capital Markets increased their target price on Cogeco Communications from C$65.00 to C$70.00 in a report on Thursday, September 5th. Royal Bank of Canada upped their price target on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the stock a “sector perform” rating in a research report on Monday, July 15th. Finally, Desjardins upped their price objective on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cogeco Communications currently has a consensus rating of “Hold” and a consensus target price of C$69.39.

Cogeco Communications Stock Down 1.6 %

The company has a market cap of C$1.96 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 4.77 and a beta of 0.57. The stock’s 50-day moving average is C$61.83 and its 200-day moving average is C$58.19. 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 (TSE:CCA) last issued its quarterly earnings results 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 return on equity of 10.52% and a net margin of 11.44%. The business had revenue of C$750.58 million for the quarter, compared to analyst estimates of C$751.50 million. On average, analysts anticipate that Cogeco Communications Inc. will post 8.2150127 earnings per share for the current fiscal year.

Cogeco Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were given a $0.854 dividend. This represents a $3.42 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Thursday, July 25th. Cogeco Communications’s 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.