Cogeco Communications (TSE:CCA) Reaches New 12-Month High – Still a Buy?

Shares of Cogeco Communications Inc. (TSE:CCA) hit a new 52-week high on Friday . The company traded as high as C$73.66 and last traded at C$73.54, with a volume of 68229 shares trading hands. The stock had previously closed at C$70.86.

Wall Street Analyst Weigh In

CCA has been the subject of a number of recent research reports. Desjardins set a C$71.00 target price on shares of Cogeco Communications and gave the company a “hold” rating in a research report on Monday. Scotiabank boosted their target price on Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research report on Monday. BMO Capital Markets decreased their price target on Cogeco Communications from C$75.00 to C$70.00 in a research note on Friday, October 31st. CIBC dropped their price objective on Cogeco Communications from C$71.00 to C$68.00 in a research note on Friday, October 17th. Finally, TD Securities lowered their target price on Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$74.78.

Cogeco Communications Stock Performance

The company has a market capitalization of C$3.08 billion, a PE ratio of 10.05, a P/E/G ratio of 4.77 and a beta of 0.65. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. The stock’s 50-day simple moving average is C$66.68 and its 200 day simple moving average is C$65.87.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. The business had revenue of C$707.25 million for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%. As a group, research analysts expect that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.987 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.92. This represents a $3.95 annualized dividend and a dividend yield of 5.4%. Cogeco Communications’s dividend payout ratio is 51.34%.

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.