Cogeco (TSE:CGO) Sets 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 Tuesday. The stock traded as low as C$45.91 and last traded at C$45.21, with a volume of 40,251 shares traded. The stock had previously closed at C$44.83.

Analyst Ratings Changes

Separately, Canadian Imperial Bank of Commerce cut their price target on Cogeco from C$67.00 to C$60.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. One equities 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.com, the stock currently has a consensus rating of “Buy” and an average price target of C$75.33.

Cogeco Stock Performance

The business has a 50 day moving average of C$53.76 and a two-hundred day moving average of C$59.93. The company has a current ratio of 0.49, a quick ratio of 0.51 and a debt-to-equity ratio of 961.67. The firm has a market cap of C$427.19 million, a P/E ratio of -1.25, a PEG ratio of -0.28 and a beta of 0.92.

Cogeco (TSE:CGO) last issued its quarterly earnings data on Wednesday, July 15th. The company reported C$3.10 earnings per share (EPS) for the quarter. Cogeco had a negative net margin of 11.78% and a negative return on equity of 43.86%. The firm had revenue of C$724.17 million during the quarter. Analysts predict that Cogeco Inc. will post 11.05 earnings per share for the current 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.