Cogeco Inc., through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Communications and Other. The Communications segment provides a range of Internet, video, and telephony services through its two-way broadband fiber networks primarily to residential customers, as well as to small and medium sized businesses under the Cogeco Connexion name in Quebec and Ontario; and Atlantic Broadband brand in the United States. The Other segment owns and operates 23 radio stations with complementary radio formats and coverage serving a range of audiences primarily across the province of Québec; and Cogeco News, a news agency. It serves primary service units, Internet, video, and telephony service customers. The company was incorporated in 1957 and is headquartered in Montreal, Canada.
Cogeco Stock Performance
CGO Stock traded up C$1.67 during mid-day trading on Thursday, reaching C$70.69. The company had a trading volume of 5,218 shares, compared to its average volume of 16,684. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 146.86. The stock has a market capitalization of C$1.12 billion and a P/E ratio of 7.55. Cogeco has a one year low of C$64.46 and a one year high of C$93.99. The stock's 50-day simple moving average is C$69.66 and its two-hundred day simple moving average is C$74.98.
Cogeco Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 10th. Stockholders of record on Wednesday, July 27th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from Cogeco's previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, July 26th. Cogeco's dividend payout ratio (DPR) is 26.48%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on CGO shares. CIBC cut their target price on Cogeco from C$106.00 to C$84.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 29th. TD Securities cut their target price on Cogeco from C$135.00 to C$120.00 and set a "buy" rating on the stock in a research note on Monday, May 2nd.