Cogeco (TSE:CGO) Share Price Crosses Above Fifty Day Moving Average of $52.53

Posted by Defense World Staff on Sep 3rd, 2024

Cogeco Inc. (TSE:CGO – Get Free Report)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$52.53 and traded as high as C$53.93. Cogeco shares last traded at C$53.93, with a volume of 7,440 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. CIBC lifted their price objective on Cogeco from C$58.00 to C$59.00 and gave the company a “neutral” rating in a report on Monday, July 15th. TD Securities boosted their price target on Cogeco from C$94.00 to C$99.00 and gave the company a “buy” rating in a research note on Monday, July 15th.

Get Our Latest Stock Analysis on Cogeco

Cogeco Price Performance

The firm has a market capitalization of C$426.59 million, a P/E ratio of 6.43, a PEG ratio of -0.28 and a beta of 0.32. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 151.56. The business’s 50 day moving average is C$52.53 and its 200-day moving average is C$53.41.

Cogeco (TSE:CGO – Get Free Report) last issued its quarterly earnings results on Thursday, July 11th. The company reported C$3.02 earnings per share (EPS) for the quarter. Cogeco had a return on equity of 10.59% and a net margin of 3.47%. The company had revenue of C$777.25 million for the quarter. As a group, sell-side analysts predict that Cogeco Inc. will post 10.9391481 EPS for the current fiscal year.

Cogeco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were issued a $0.854 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.33%. Cogeco’s dividend payout ratio (DPR) is currently 40.76%.

Cogeco Company Profile

(Get Free Report)

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.