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

Cogeco Communications Inc. (TSE:CCA) 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. The stock had previously closed at C$73.57.

Analyst Ratings Changes

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

Cogeco Communications Price Performance

The firm has a market capitalization of C$3.13 billion, a PE ratio of 10.20, a P/E/G ratio of 4.77 and a beta of 1.01. The company has a current ratio of 0.40, a quick ratio of 0.49 and a debt-to-equity ratio of 143.75. The company has a fifty day moving average price of C$70.02 and a two-hundred day moving average price of C$67.18.

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