Cogeco (TSE:CGO) Sets New 1-Year High – Here’s Why

Cogeco Inc. (TSE:CGO)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$63.14 and last traded at C$63.16, with a volume of 20216 shares. The stock had previously closed at C$61.62.

Analysts Set New Price Targets

Several research firms have weighed in on CGO. CIBC lowered their target price on Cogeco from C$69.00 to C$67.00 in a research note on Monday, November 4th. TD Securities upped their price objective on shares of Cogeco from C$99.00 to C$104.00 in a research note on Monday, November 4th. Finally, Canaccord Genuity Group raised Cogeco from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th.

Cogeco Trading Up 2.6 %

The company has a market cap of C$499.91 million, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of -0.28 and a beta of 0.34. The company has a debt-to-equity ratio of 151.56, a quick ratio of 0.51 and a current ratio of 0.44. The company’s 50 day moving average price is C$60.45 and its 200 day moving average price is C$55.12.

Cogeco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 14th were issued a $0.922 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Cogeco’s previous quarterly dividend of $0.85. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.84%. Cogeco’s dividend payout ratio is presently 40.76%.

About Cogeco

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.