Cogeco Communications (TSE:CCA) Sets New 52-Week Low – Here’s Why

Cogeco Communications Inc. (TSE:CCA)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as C$58.69 and last traded at C$58.77, with a volume of 119188 shares changing hands. The stock had previously closed at C$59.79.

Analyst Ratings Changes

CCA has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. Desjardins set a C$68.00 target price on shares of Cogeco Communications and gave the company a “hold” rating in a research note on Wednesday, July 15th. Finally, 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 on the stock in a report on Monday, August 31st. One 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 stock. According to data from MarketBeat, Cogeco Communications currently has an average rating of “Moderate Buy” and an average target price of C$73.11.

Cogeco Communications Price Performance

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 firm has a market cap of C$2.41 billion, a P/E ratio of -2.17, a PEG ratio of 4.77 and a beta of 0.97. The company has a fifty day moving average price of C$61.14 and a two-hundred day moving average price of C$64.82.

Cogeco Communications (TSE:CCA) last posted its earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share (EPS) for the quarter. The business had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. Equities analysts anticipate that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current year.

Cogeco Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 12th were issued a $0.987 dividend. This represents a $3.95 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Wednesday, July 29th. Cogeco Communications’s dividend payout ratio is -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.