Cogeco Communications (TSE:CCA) Reaches New 52-Week High at $69.19

Shares of Cogeco Communications Inc. (TSE:CCA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$69.19 and last traded at C$69.03, with a volume of 23547 shares. The stock had previously closed at C$68.15.

Analysts Set New Price Targets

Several brokerages have commented on CCA. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$64.00 to C$80.00 in a research report on Friday. Bank of America raised shares of Cogeco Communications from an “underperform” rating to a “buy” rating and raised their price target for the stock from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. TD Securities boosted their price objective on shares of 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 raised their target price on shares of Cogeco Communications from C$65.00 to C$70.00 in a research report on Thursday, September 5th. Finally, National Bank Financial raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$71.28.

Cogeco Communications Price Performance

The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. The firm has a market capitalization of C$2.08 billion, a PE ratio of 8.69, a P/E/G ratio of 4.77 and a beta of 0.57. The stock has a fifty day moving average price of C$64.49 and a 200-day moving average price of C$58.61.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, July 11th. The company reported C$2.45 EPS for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.72. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. The company had revenue of C$750.58 million during the quarter, compared to analysts’ expectations of C$751.50 million. Sell-side analysts forecast that Cogeco Communications Inc. will post 8.2156863 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th were paid a $0.854 dividend. This represents a $3.42 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Thursday, July 25th. Cogeco Communications’s dividend payout ratio (DPR) is presently 43.62%.

About Cogeco Communications

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.