Cogeco Communications (TSE:CCA) Reaches New 52-Week Low – What’s Next?

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

Wall Street Analyst Weigh In

Several analysts have issued reports on CCA shares. TD raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and lowered their price objective for the company from C$85.00 to C$83.00 in a research report on Monday, April 13th. Desjardins set a C$68.00 price target on Cogeco Communications and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Scotiabank cut their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a research note on Monday, April 13th. Canaccord Genuity Group decreased their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Finally, National Bank Financial lowered Cogeco Communications from an “outperform” rating to a “hold” rating and dropped their price target for the company from C$75.00 to C$70.00 in a research report on Friday, July 17th. One research 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.22.

Cogeco Communications Trading Up 1.1%

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 0.94. The business’s 50-day moving average is C$63.41 and its two-hundred day moving average is C$66.30. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79.

Cogeco Communications (TSE:CCA) last issued its earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share (EPS) 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 Announces Dividend

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.