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

Cogeco Communications Inc. (TSE:CCA)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$56.86 and last traded at C$56.88, with a volume of 79029 shares traded. The stock had previously closed at C$57.68.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CCA. National Bank Financial dropped their price objective on shares of Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating for the company in a research note on Monday, August 31st. Royal Bank Of Canada decreased their target price on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research report on Friday, July 10th. Finally, Desjardins set a C$68.00 target price on shares of Cogeco Communications and gave the company a “hold” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$73.11.

Cogeco Communications Stock Down 1.4%

The firm has a market capitalization of C$2.39 billion, a PE ratio of -2.15, a price-to-earnings-growth ratio of 4.77 and a beta of 0.97. 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 50-day moving average of C$60.33 and a two-hundred day moving average of C$64.13.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The company had revenue of C$696.68 million for the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. On average, equities research analysts forecast that Cogeco Communications Inc. will post 8.4900498 EPS for the current year.

Cogeco Communications Dividend Announcement

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