Shares of Cogeco Communications Inc. (TSE:CCA – Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as C$60.10 and last traded at C$60.17, with a volume of 25079 shares traded. The stock had previously closed at C$61.76.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CCA. Scotiabank decreased their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a report on Monday, April 13th. Canaccord Genuity Group reduced their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada decreased their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research note on Friday, July 10th. TD raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and lowered their price target for the company from C$85.00 to C$83.00 in a report on Monday, April 13th. Finally, Desjardins set a C$68.00 price objective on shares of Cogeco Communications and gave the company a “hold” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Cogeco Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$73.22.
Get Our Latest Research Report on Cogeco Communications
Cogeco Communications Trading Down 1.8%
Cogeco Communications (TSE:CCA – Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 earnings per share for the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%.The company had revenue of C$696.68 million for the quarter. On average, analysts expect that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current fiscal year.
Cogeco Communications Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, August 12th will be paid a $0.987 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $3.95 annualized dividend and a yield of 6.7%. Cogeco Communications’s payout ratio is currently -14.69%.
Cogeco Communications Company Profile
Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. 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. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.
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