Cogeco Communications (TSE:CCA) Reaches New 12-Month Low Following Analyst Downgrade

Cogeco Communications Inc. (TSE:CCA) reached a new 52-week low during mid-day trading on Friday after Canadian Imperial Bank of Commerce lowered their price target on the stock from C$71.00 to C$65.00. Canadian Imperial Bank of Commerce currently has a neutral rating on the stock. Cogeco Communications traded as low as C$50.60 and last traded at C$50.75, with a volume of 9009 shares changing hands. The stock had previously closed at C$52.50.

Several other equities analysts also recently issued reports on the stock. Desjardins decreased their price objective on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a report on Wednesday. Royal Bank Of Canada reduced their price objective on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. Finally, National Bank Financial decreased their price target on Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating on the stock in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$72.00.

Cogeco Communications Stock Down 4.7%

The firm has a 50 day simple moving average of C$58.04 and a two-hundred day simple moving average of C$62.38. The company has a market capitalization of C$2.10 billion, a PE ratio of -1.89, a P/E/G ratio of 4.77 and a beta of 1.08. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The business had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. Research analysts expect that Cogeco Communications Inc. will post 8.4900498 EPS for the current year.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, August 12th were paid a $0.9870 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $3.95 dividend on an annualized basis and a dividend yield of 7.9%. Cogeco Communications’s payout ratio is -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.