Cogeco (TSE:CGO) Reaches New 1-Year Low – Here’s What Happened

Shares of Cogeco Inc. (TSE:CGO) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as C$43.51 and last traded at C$44.42, with a volume of 89,990 shares. The stock had previously closed at C$45.87.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce lowered their target price on shares of Cogeco from C$67.00 to C$60.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$75.33.

Cogeco Trading Down 1.4%

The company has a quick ratio of 0.51, a current ratio of 0.60 and a debt-to-equity ratio of 916.00. The stock’s 50 day moving average is C$50.98 and its two-hundred day moving average is C$61.94. The company has a market capitalization of C$446.37 million, a PE ratio of -1.29, a price-to-earnings-growth ratio of -0.28 and a beta of 0.92.

Cogeco (TSE:CGO) last posted its earnings results on Thursday, October 29th. The company reported C$2.04 EPS for the quarter. Cogeco had a negative net margin of 11.80% and a negative return on equity of 49.57%. The business had revenue of C$713.89 million for the quarter. As a group, sell-side analysts predict that Cogeco Inc. will post 11.05 EPS for the current fiscal year.

About Cogeco

Cogeco Inc is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc, 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. Through Cogeco Media, we operate 21 radio stations in Canada, primarily in the province of Quebec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.