Cogeco Communications (TSE:CCA) Sets New 52-Week Low – Time to Sell?

Cogeco Communications Inc. (TSE:CCA)’s stock price hit a new 52-week low on Thursday . The company traded as low as C$60.10 and last traded at C$60.17, with a volume of 25079 shares traded. The stock had previously closed at C$61.76.

Analyst Ratings Changes

Several research firms have recently issued reports on CCA. National Bank Financial lowered shares of Cogeco Communications from an “outperform” rating to a “hold” rating and lowered their price target for the company from C$75.00 to C$70.00 in a research report on Friday, July 17th. Canaccord Genuity Group lowered their target price on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Royal Bank Of Canada cut their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. Scotiabank reduced their price target on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a research report on Monday, April 13th. Finally, TD upgraded Cogeco Communications from a “hold” rating to a “buy” rating and decreased their price objective for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$73.22.

Cogeco Communications Price Performance

The business’s 50-day moving average price is C$64.07 and its 200 day moving average price is C$66.70. The company has a market capitalization of C$2.53 billion, a P/E ratio of -2.28, a price-to-earnings-growth ratio of 4.77 and a beta of 0.93. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79.

Cogeco Communications (TSE:CCA) last posted its earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. The business had revenue of C$696.68 million for the quarter. Analysts anticipate that Cogeco Communications Inc. will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, August 12th will be given a $0.987 dividend. This represents a $3.95 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Wednesday, July 29th. Cogeco Communications’s dividend payout ratio (DPR) is -14.69%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.