Cogeco (TSE:CGO) Hits New 12-Month High – Here’s Why

Cogeco Inc. (TSE:CGO)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$74.50 and last traded at C$74.08, with a volume of 6679 shares trading hands. The stock had previously closed at C$73.65.

Wall Street Analyst Weigh In

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

Cogeco Price Performance

The stock has a 50-day simple moving average of C$68.46 and a 200 day simple moving average of C$63.75. The stock has a market capitalization of C$701.48 million, a P/E ratio of 8.58, a price-to-earnings-growth ratio of -0.28 and a beta of 0.73. The company has a debt-to-equity ratio of 540.51, a quick ratio of 0.51 and a current ratio of 0.44.

Cogeco (TSE:CGO) last issued its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share (EPS) for the quarter. The business had revenue of C$735.64 million for the quarter. Cogeco had a return on equity of 9.61% and a net margin of 2.80%. On average, equities analysts forecast 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.