Cogeco Communications (TSE:CCA) Hits New 52-Week High on Analyst Upgrade

Shares of Cogeco Communications Inc. (TSE:CCA) hit a new 52-week high during mid-day trading on Thursday after National Bank Financial upgraded the stock from a hold rating to an outperform rating. National Bank Financial now has a C$80.00 price target on the stock, up from their previous price target of C$71.00. Cogeco Communications traded as high as C$74.40 and last traded at C$74.30, with a volume of 19391 shares. The stock had previously closed at C$73.57.

CCA has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce lifted their target price on Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. BMO Capital Markets decreased their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a research note on Friday, October 31st. TD Securities upped their price objective on shares of Cogeco Communications from C$95.00 to C$100.00 and gave the company a “buy” rating in a report on Friday, January 16th. Desjardins upgraded shares of Cogeco Communications to a “hold” rating in a research note on Wednesday, January 28th. Finally, Scotiabank boosted their target price on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cogeco Communications has an average rating of “Moderate Buy” and a consensus target price of C$77.16.

Cogeco Communications Stock Performance

The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35. The firm has a 50-day moving average price of C$68.30 and a two-hundred day moving average price of C$66.23. The firm has a market cap of C$3.06 billion, a PE ratio of 9.96, a P/E/G ratio of 4.77 and a beta of 0.87.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings data on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%.The company had revenue of C$707.25 million for the quarter. Research analysts forecast that Cogeco Communications Inc. will post 8.4900498 EPS for the current fiscal year.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.