Cogeco Communications (TSE:CCA) Hits New 1-Year High – What’s Next?

Cogeco Communications Inc. (TSE:CCA)’s share price reached a new 52-week high on Friday . The stock traded as high as C$72.36 and last traded at C$72.13, with a volume of 60570 shares. The stock had previously closed at C$71.50.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and raised their price objective for the company from C$65.00 to C$77.00 in a research report on Monday. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$64.00 to C$80.00 in a report on Friday, September 20th. Royal Bank of Canada raised their price target on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Finally, BMO Capital Markets lifted their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$75.50.

Cogeco Communications Stock Up 0.9 %

The stock has a fifty day moving average price of C$68.40 and a two-hundred day moving average price of C$60.84. The company has a market cap of C$2.16 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th will be paid a $0.922 dividend. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, November 14th. This represents a $3.69 annualized dividend and a yield of 5.11%. Cogeco Communications’s payout ratio is 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.