Cogeco (TSE:CGO) Sets New 1-Year High – Still a Buy?

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

Analyst Upgrades and Downgrades

CGO has been the subject of a number of research reports. TD Securities boosted their price objective on Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Canadian Imperial Bank of Commerce increased their price target on Cogeco from C$61.00 to C$66.00 in a report on Friday, January 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$93.00.

Cogeco Trading Up 1.8%

The company’s fifty day moving average price is C$67.54 and its two-hundred day moving average price is C$63.31. The company has a quick ratio of 0.51, a current ratio of 0.40 and a debt-to-equity ratio of 605.15. The company has a market cap of C$697.89 million, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of -0.28 and a beta of 0.73.

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

Cogeco Company Profile

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.