Cogeco Communications (TSE:CCA) Reaches New 1-Year Low - What's Next?

Key Points

• Cogeco Communications shares fell to a new 52-week low of C$58.69, closing around C$58.77 and down 1.7%.
• Analysts have recently reduced price targets, but the stock retains a consensus “Moderate Buy” rating with an average target of C$73.11—well above its current price.
• The company reported C$2.35 in quarterly EPS on C$696.68 million in revenue and pays a quarterly dividend of C$0.987 per share, representing an annualized yield of about 6.7%.

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$58.69 and last traded at C$58.77, with a volume of 119188 shares traded. The stock had previously closed at C$59.79.

Analyst Upgrades and Downgrades

CCA has been the subject of several recent analyst reports. Desjardins set a C$68.00 target price on Cogeco Communications and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Royal Bank Of Canada lowered their price target on 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 dropped their price target on Cogeco Communications from C$70.00 to C$69.00 and set a "sector perform" rating for the company in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$73.11.

Cogeco Communications Stock Down 1.7%

The stock's fifty day moving average price is C$61.36 and its 200 day moving average price is C$64.98. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79. The stock has a market cap of C$2.47 billion, a P/E ratio of -2.22, a price-to-earnings-growth ratio of 4.77 and a beta of 0.97.

Cogeco Communications (TSE:CCA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 earnings per share (EPS) for the quarter. The company had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. As a group, research analysts forecast that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.987 per share. The ex-dividend date was Wednesday, July 29th. This represents a $3.95 annualized dividend and a dividend yield of 6.7%. Cogeco Communications's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.