Cogeco Communications (TSE:CCA) Sets New 52-Week High – Time to Buy?

Cogeco Communications Inc. (TSE:CCA)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as C$74.83 and last traded at C$74.68, with a volume of 34563 shares. The stock had previously closed at C$73.57.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCA. Scotiabank upped their target price on Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a report on Monday, January 12th. Desjardins upgraded Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. Canadian Imperial Bank of Commerce boosted their price objective on Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. TD Securities upped their price objective on Cogeco Communications from C$95.00 to C$100.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, National Bank Financial raised Cogeco Communications from a “hold” rating to an “outperform” rating and raised their target price for the company from C$71.00 to C$80.00 in a research report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$77.16.

Cogeco Communications Trading Up 1.5%

The company has a quick ratio of 0.49, a current ratio of 0.40 and a debt-to-equity ratio of 143.75. The firm has a market cap of C$3.14 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 4.77 and a beta of 1.01. The firm’s 50-day simple moving average is C$70.15 and its 200 day simple moving average is C$67.27.

Cogeco Communications (TSE:CCA) last released its earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. Cogeco Communications had a net margin of 10.79% and a return on equity of 9.79%. The firm had revenue of C$707.25 million during the quarter. As a group, analysts expect that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current 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.