Cogeco Communications (TSE:CCA) Sets New 1-Year Low – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA) shares reached a new 52-week low on Thursday . The stock traded as low as C$60.80 and last traded at C$60.87, with a volume of 38684 shares. The stock had previously closed at C$61.53.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCA. TD upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and cut their target price for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. Scotiabank decreased 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 note on Monday, April 13th. National Bank Financial lowered Cogeco Communications from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$75.00 to C$70.00 in a report on Friday, July 17th. TD Securities upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Royal Bank Of Canada cut 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 research note 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.22.

Cogeco Communications Trading Down 0.3%

The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79. The business’s 50-day moving average is C$64.21 and its two-hundred day moving average is C$66.83. The firm has a market cap of C$2.55 billion, a P/E ratio of -2.30, a P/E/G ratio of 4.77 and a beta of 0.93.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data 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 firm had revenue of C$696.68 million for the quarter. As a group, analysts expect that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

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