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

Shares of Cogeco Communications Inc. (TSE:CCA) reached a new 52-week low during trading on Wednesday . The stock traded as low as C$58.69 and last traded at C$58.77, with a volume of 119188 shares. The stock had previously closed at C$59.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Desjardins set a C$68.00 price objective on shares of Cogeco Communications and gave the company a “hold” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada lowered their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. Finally, National Bank Financial cut their price target on shares of Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating for the company in a research report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$73.11.

Cogeco Communications Stock Down 1.7%

The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79. The stock has a market cap of C$2.47 billion, a P/E ratio of -2.22, a P/E/G ratio of 4.77 and a beta of 0.97. The company has a 50-day simple moving average of C$61.36 and a two-hundred day simple moving average of C$64.98.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The company had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. On average, equities analysts forecast that Cogeco Communications Inc. will post 8.4900498 EPS for the current year.

Cogeco Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.987 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $3.95 dividend on an annualized basis and a yield of 6.7%. Cogeco Communications’s dividend payout ratio is presently -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.