Cogeco (TSE:CGO) Reaches New 1-Year High – Here’s Why

Cogeco Inc. (TSE:CGO)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$72.66 and last traded at C$72.32, with a volume of 1028 shares trading hands. The stock had previously closed at C$72.46.

Analyst Ratings Changes

CGO has been the topic of several research analyst reports. TD Securities lifted their price objective on shares of Cogeco from C$110.00 to C$120.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Canadian Imperial Bank of Commerce lifted their price target on Cogeco from C$61.00 to C$66.00 in a report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$93.00.

Cogeco Price Performance

The company’s 50-day simple moving average is C$66.69 and its 200 day simple moving average is C$62.84. The company has a market capitalization of C$679.23 million, a P/E ratio of 8.30, a P/E/G ratio of -0.28 and a beta of 0.73. The company has a quick ratio of 0.51, a current ratio of 0.40 and a debt-to-equity ratio of 605.15.

Cogeco (TSE:CGO) last released its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share for the quarter. Cogeco had a net margin of 3.00% and a return on equity of 11.28%. The business had revenue of C$735.64 million for the quarter. As a group, sell-side analysts expect that Cogeco Inc. will post 11.054717 earnings per share for the current fiscal year.

Cogeco Company Profile

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.