Cogeco (TSE:CGO) Hits New 1-Year High – What’s Next?

Cogeco Inc. (TSE:CGO)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$76.35 and last traded at C$75.83, with a volume of 16177 shares traded. The stock had previously closed at C$74.12.

Analyst Upgrades and Downgrades

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

Cogeco Stock Up 0.1%

The company’s fifty day moving average price is C$71.40 and its 200-day moving average price is C$65.29. The stock has a market capitalization of C$720.99 million, a PE ratio of 8.81, a price-to-earnings-growth ratio of -0.28 and a beta of 0.82. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 540.51.

Cogeco (TSE:CGO) last posted its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share for the quarter. Cogeco had a return on equity of 9.61% and a net margin of 2.80%.The company had revenue of C$735.64 million for the quarter. Analysts forecast that Cogeco Inc. will post 11.054717 earnings per share for the current year.

About Cogeco

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.