Cogeco (TSE:CGO) Hits New 1-Year High – Here’s Why

Cogeco Inc. (TSE:CGO)’s stock price 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. The stock had previously closed at C$66.13.

Analyst Ratings Changes

Several research firms have issued reports on CGO. CIBC dropped their price target on Cogeco from C$64.00 to C$61.00 in a report on Friday, October 17th. TD Securities decreased their target price on Cogeco from C$115.00 to C$110.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Cogeco has a consensus rating of “Buy” and a consensus price target of C$85.50.

Cogeco Stock Performance

The firm’s 50-day simple moving average is C$63.20 and its two-hundred day simple moving average is C$61.96. The company has a current ratio of 0.40, a quick ratio of 0.51 and a debt-to-equity ratio of 605.15. The stock has a market capitalization of C$644.79 million, a PE ratio of 7.70, a PEG ratio of -0.28 and a beta of 0.54.

Cogeco (TSE:CGO) last issued its earnings results 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 return on equity of 11.28% and a net margin of 3.00%. On average, equities research analysts expect that Cogeco Inc. will post 11.054717 earnings per share 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.