Cogeco Communications (TSE:CCA) Hits New 12-Month Low – Here’s Why

Cogeco Communications Inc. (TSE:CCA)’s stock price reached a new 52-week low on Wednesday . The company traded as low as C$58.42 and last traded at C$60.58, with a volume of 176190 shares changing hands. The stock had previously closed at C$59.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CCA shares. Desjardins set a C$68.00 price objective on shares of Cogeco Communications and gave the stock a “hold” rating in a research report on Wednesday, July 15th. 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. TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. National Bank Financial cut shares of Cogeco Communications from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$75.00 to C$70.00 in a report on Friday, July 17th. Finally, Royal Bank Of Canada cut 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 report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$73.22.

Cogeco Communications Stock Performance

The company has a debt-to-equity ratio of 241.79, a current ratio of 0.47 and a quick ratio of 0.49. The stock has a market capitalization of C$2.55 billion, a PE ratio of -2.29, a P/E/G ratio of 4.77 and a beta of 0.93. The stock has a 50 day moving average of C$63.64 and a two-hundred day moving average of C$66.47.

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

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.987 per share. This represents a $3.95 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Wednesday, July 29th. Cogeco Communications’s payout ratio is presently -14.69%.

Cogeco Communications Company Profile

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.