Cogeco Communications (TSE:CCA) Reaches New 1-Year High – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA)’s share price hit a new 52-week high on Thursday . The company traded as high as C$72.40 and last traded at C$71.99, with a volume of 10703 shares changing hands. The stock had previously closed at C$71.85.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCA. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$64.00 to C$80.00 in a report on Friday, September 20th. Desjardins lifted their price objective on Cogeco Communications from C$64.00 to C$69.00 and gave the stock a “hold” rating in a report on Monday, July 15th. BMO Capital Markets increased their target price on Cogeco Communications from C$65.00 to C$70.00 in a report on Thursday, September 5th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada increased their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$71.61.

Cogeco Communications Price Performance

The stock has a 50 day simple moving average of C$67.43 and a 200-day simple moving average of C$60.06. The firm has a market cap of C$2.15 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88.

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.