Cogeco (TSE:CGO) Reaches New 12-Month High – Here’s Why

Cogeco Inc. (TSE:CGO) hit a new 52-week high on Monday . The stock traded as high as C$76.35 and last traded at C$75.83, with a volume of 16177 shares traded. The stock had previously closed at C$74.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CGO. Canadian Imperial Bank of Commerce lifted their price target on shares of Cogeco from C$61.00 to C$66.00 in a research note on Friday, January 16th. TD Securities raised their price objective on shares of Cogeco from C$110.00 to C$120.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$93.00.

Cogeco Stock Up 2.2%

The company’s 50 day moving average is C$70.97 and its 200 day moving average is C$65.08. The company has a market cap of C$717.01 million, a PE ratio of 8.77, a P/E/G ratio of -0.28 and a beta of 0.82. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 540.51.

Cogeco (TSE:CGO) last issued its earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share for the quarter. Cogeco had a return on equity of 9.61% and a net margin of 2.80%.The business had revenue of C$735.64 million during the quarter. As a group, analysts predict 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.