Cogeco (TSE:CGO) Reaches New 1-Year High – Should You Buy?

Cogeco Inc. (TSE:CGO) shares hit a new 52-week high on Thursday . The company traded as high as C$69.95 and last traded at C$69.01, with a volume of 12659 shares changing hands. The stock had previously closed at C$66.13.

Wall Street Analysts Forecast Growth

CGO has been the subject of several research analyst reports. CIBC lifted their price target on shares of Cogeco from C$61.00 to C$66.00 in a research note on Friday. TD Securities raised their price objective on Cogeco from C$110.00 to C$120.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Cogeco has a consensus rating of “Buy” and an average price target of C$93.00.

Cogeco Stock Performance

The business has a 50 day simple moving average of C$63.57 and a 200 day simple moving average of C$62.04. 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 capitalization of C$677.53 million, a PE ratio of 8.28, a PEG ratio of -0.28 and a beta of 0.54.

Cogeco (TSE:CGO) last posted its quarterly earnings data on Wednesday, January 14th. The company reported C$3.00 EPS for the quarter. The business had revenue of C$735.64 million during the quarter. Cogeco had a net margin of 3.00% and a return on equity of 11.28%. Equities research analysts predict that Cogeco Inc. will post 11.054717 EPS for the current fiscal 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.