Cogeco Communications (CCA) Hits New 12-Month High at $93.63

Cogeco Communications Inc (TSE:CCA) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$93.63 and last traded at C$92.55, with a volume of 50866 shares changing hands. The stock had previously closed at C$92.62.

A number of research analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Cogeco Communications from C$89.00 to C$90.00 in a research report on Tuesday, April 9th. National Bank Financial boosted their target price on shares of Cogeco Communications from C$90.00 to C$95.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$75.00 to C$95.00 in a research report on Thursday, May 2nd. Desjardins upped their price objective on shares of Cogeco Communications from C$81.00 to C$87.00 in a research report on Thursday, February 28th. Finally, CIBC upped their price objective on shares of Cogeco Communications from C$85.00 to C$94.00 in a research report on Thursday, February 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cogeco Communications presently has an average rating of “Buy” and an average price target of C$90.57.

The stock has a market capitalization of $4.58 billion and a price-to-earnings ratio of 16.59. The company has a debt-to-equity ratio of 158.42, a quick ratio of 0.48 and a current ratio of 2.41.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Tuesday, April 9th. The company reported C$1.64 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.57 by C$0.07. The firm had revenue of C$584.13 million during the quarter, compared to analyst estimates of C$642.13 million. Research analysts expect that Cogeco Communications Inc will post 7.30000063046535 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 7th. Shareholders of record on Tuesday, May 7th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.28%. Cogeco Communications’s dividend payout ratio (DPR) is currently 35.98%.

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Cogeco Communications Company Profile (TSE:CCA)

Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.

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