Cogeco Communications (TSE:CCA) Reaches New 52-Week Low – What’s Next?

Shares of Cogeco Communications Inc. (TSE:CCA) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$60.80 and last traded at C$60.87, with a volume of 38684 shares trading hands. The stock had previously closed at C$61.53.

Analyst Upgrades and Downgrades

A number of analysts have commented on CCA shares. Royal Bank Of Canada reduced their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. TD raised Cogeco Communications from a “hold” rating to a “buy” rating and lowered their price target for the company from C$85.00 to C$83.00 in a report on Monday, April 13th. National Bank Financial cut Cogeco Communications from an “outperform” rating to a “hold” rating and dropped their price objective for the company from C$75.00 to C$70.00 in a research report on Friday, July 17th. TD Securities upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, Scotiabank reduced their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Cogeco Communications presently has an average rating of “Moderate Buy” and a consensus target price of C$73.22.

Cogeco Communications Trading Down 1.5%

The company has a market cap of C$2.55 billion, a P/E ratio of -2.29, a P/E/G ratio of 4.77 and a beta of 0.93. The stock’s 50-day moving average is C$64.30 and its two-hundred day moving average is C$66.92. The company has a debt-to-equity ratio of 241.79, a current ratio of 0.47 and a quick ratio of 0.49.

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

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.987 per share. This represents a $3.95 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Wednesday, July 29th. Cogeco Communications’s dividend payout ratio is presently -14.69%.

About Cogeco Communications

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.