Cogeco (TSE:CGO) Reaches New 12-Month High – Time to Buy?

Shares of Cogeco Inc. (TSE:CGO) reached a new 52-week high on Wednesday . The stock traded as high as C$73.70 and last traded at C$73.46, with a volume of 9482 shares traded. The stock had previously closed at C$72.40.

Analyst Ratings Changes

Several research firms recently commented on CGO. TD Securities raised their target price on Cogeco from C$110.00 to C$120.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Cogeco from C$61.00 to C$66.00 in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$93.00.

Cogeco Price Performance

The company has a debt-to-equity ratio of 605.15, a current ratio of 0.40 and a quick ratio of 0.51. The business’s fifty day moving average price is C$68.00 and its 200-day moving average price is C$63.46. The stock has a market capitalization of C$695.05 million, a price-to-earnings ratio of 8.50, a PEG ratio of -0.28 and a beta of 0.73.

Cogeco (TSE:CGO) last released its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share (EPS) for the quarter. The business had revenue of C$735.64 million during the quarter. Cogeco had a return on equity of 11.28% and a net margin of 3.00%. On average, research analysts forecast that Cogeco Inc. will post 11.054717 EPS for the current year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.