Cogeco Communications (TSE:CCA) Sets New 1-Year High – What’s Next?

Cogeco Communications Inc. (TSE:CCA)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$74.83 and last traded at C$74.68, with a volume of 34563 shares changing hands. The stock had previously closed at C$73.57.

Wall Street Analyst Weigh In

CCA has been the topic of several research reports. National Bank Financial raised Cogeco Communications from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Scotiabank raised their price target on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a research report on Monday, January 12th. Desjardins upgraded shares of Cogeco Communications to a “hold” rating in a research note on Wednesday, January 28th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. Finally, TD Securities increased their price objective on shares of Cogeco Communications from C$95.00 to C$100.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$77.16.

Cogeco Communications Stock Up 1.3%

The firm has a market cap of C$3.13 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 4.77 and a beta of 1.01. The business has a fifty day simple moving average of C$70.02 and a 200 day simple moving average of C$67.18. The company has a debt-to-equity ratio of 143.75, a current ratio of 0.40 and a quick ratio of 0.49.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. The firm had revenue of C$707.25 million during the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%. As a group, equities analysts forecast that Cogeco Communications Inc. will post 8.4900498 EPS for the current fiscal year.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.