Cogeco Communications (TSE:CCA) Sets New 12-Month Low at $50.84

Cogeco Communications Inc. (TSE:CCA - Get Free Report)'s share price hit a new 52-week low on Wednesday . The company traded as low as C$50.84 and last traded at C$51.14, with a volume of 12719 shares traded. The stock had previously closed at C$51.58.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Securities cut their target price on shares of Cogeco Communications from C$90.00 to C$80.00 and set a "buy" rating on the stock in a research note on Wednesday, June 5th. Royal Bank of Canada upped their price target on Cogeco Communications from C$76.00 to C$79.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 16th. Canaccord Genuity Group cut their price target on Cogeco Communications from C$63.00 to C$60.00 and set a "hold" rating on the stock in a report on Monday, April 15th. Desjardins decreased their price objective on Cogeco Communications from C$68.00 to C$64.00 and set a "hold" rating for the company in a report on Monday, April 15th. Finally, Scotiabank cut their target price on Cogeco Communications from C$77.00 to C$73.50 and set a "sector perform" rating on the stock in a report on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$68.44.

Cogeco Communications Price Performance

The firm has a market cap of C$1.55 billion, a P/E ratio of 6.15, a PEG ratio of 4.77 and a beta of 0.47. The business's fifty day simple moving average is C$54.44 and its 200-day simple moving average is C$57.83. The company has a current ratio of 0.55, a quick ratio of 0.49 and a debt-to-equity ratio of 143.84.

Cogeco Communications (TSE:CCA - Get Free Report) last announced its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a return on equity of 11.41% and a net margin of 12.34%. The firm had revenue of C$730.50 million for the quarter, compared to analysts' expectations of C$735.00 million. As a group, analysts forecast that Cogeco Communications Inc. will post 8.341791 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Thursday, April 25th were given a dividend of $0.854 per share. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.67%. Cogeco Communications's dividend payout ratio (DPR) is presently 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.