Cogeco (TSE:CGO) Hits New 1-Year High – Should You Buy?

Cogeco Inc. (TSE:CGO)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$65.34 and last traded at C$65.34, with a volume of 3260 shares changing hands. The stock had previously closed at C$64.73.

Wall Street Analyst Weigh In

CGO has been the topic of a number of research analyst reports. TD Securities increased their price objective on shares of Cogeco from C$99.00 to C$104.00 in a report on Monday, November 4th. CIBC reduced their price objective on shares of Cogeco from C$69.00 to C$67.00 in a research note on Monday, November 4th. Finally, Canaccord Genuity Group upgraded Cogeco from a “hold” rating to a “buy” rating and raised their target price for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th.

Cogeco Trading Down 2.9 %

The business has a 50 day moving average of C$60.92 and a two-hundred day moving average of C$55.41. The firm has a market cap of C$497.14 million, a P/E ratio of 7.72, a PEG ratio of -0.28 and a beta of 0.34. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 151.56.

Cogeco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 14th were issued a dividend of $0.922 per share. This is an increase from Cogeco’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 annualized dividend and a dividend yield of 5.87%. Cogeco’s 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.