Cogeco Communications (TSE:CCA) Reaches New 52-Week Low at $50.84

Cogeco Communications Inc. (TSE:CCA) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$50.84 and last traded at C$51.14, with a volume of 12719 shares changing hands. The stock had previously closed at C$51.58.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Securities decreased their price objective on shares of Cogeco Communications from C$90.00 to C$80.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Desjardins decreased their price objective on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Royal Bank of Canada upped their price target on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 16th. Scotiabank reduced their price target on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a research report on Monday, April 15th. Finally, Canaccord Genuity Group reduced their price target on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$68.44.

Cogeco Communications Trading Up 0.5 %

The firm has a market capitalization of C$1.56 billion, a PE ratio of 6.19, a PEG ratio of 4.77 and a beta of 0.47. The company’s 50-day moving average price is C$54.35 and its 200-day moving average price is C$57.79. The company has a debt-to-equity ratio of 143.84, a quick ratio of 0.49 and a current ratio of 0.55.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.88 by C$0.33. The business had revenue of C$730.50 million during the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a net margin of 12.34% and a return on equity of 11.41%. On average, sell-side analysts expect that Cogeco Communications Inc. will post 8.341791 earnings per share for the current year.

Cogeco Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, April 25th were paid a dividend of $0.854 per share. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $3.42 annualized dividend and a yield of 6.64%. Cogeco Communications’s dividend payout ratio is currently 41.11%.

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.