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

Shares of Cogeco Communications Inc. (TSE:CCA) reached a new 52-week low on Wednesday . The stock 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 Upgrades and Downgrades

CCA has been the subject of a number of research analyst reports. Scotiabank reduced their price target on Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a report on Monday, April 15th. Desjardins dropped their price target on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Royal Bank of Canada lifted their price objective 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. TD Securities cut their target price on shares of Cogeco Communications from C$90.00 to C$80.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Canaccord Genuity Group lowered their price objective on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Cogeco Communications has an average rating of “Hold” and a consensus price target of C$68.44.

Cogeco Communications Stock Down 1.0 %

The company has a current ratio of 0.55, a quick ratio of 0.49 and a debt-to-equity ratio of 143.84. The company’s 50 day simple moving average is C$54.53 and its 200-day simple moving average is C$57.88. The firm has a market cap of C$1.54 billion, a P/E ratio of 6.20, a PEG ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.33. The firm had revenue of C$730.50 million for the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a return on equity of 11.41% and a net margin of 12.34%. Research analysts forecast that Cogeco Communications Inc. will post 8.341791 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders 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 dividend yield of 6.69%. 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.