Cogeco Communications (TSE:CCA) Sets New 12-Month Low – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA) reached a new 52-week low on Monday. The stock traded as low as C$53.87 and last traded at C$53.90, with a volume of 11875 shares trading hands. The stock had previously closed at C$54.80.

Wall Street Analyst Weigh In

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

Cogeco Communications Trading Down 2.8%

The company’s 50 day moving average price is C$59.72 and its two-hundred day moving average price is C$63.68. The firm has a market cap of C$2.24 billion, a PE ratio of -2.02, a P/E/G ratio of 4.77 and a beta of 0.97. 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 released its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The firm 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%. As a group, sell-side analysts forecast that Cogeco Communications Inc. will post 8.4900498 EPS for the current year.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, August 12th were paid a $0.9870 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $3.95 annualized dividend and a yield of 7.4%. Cogeco Communications’s dividend payout ratio (DPR) 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.