Cogeco (TSE:CGO) Sets New 12-Month High – Time to Buy?

Shares of Cogeco Inc. (TSE:CGO) hit a new 52-week high on Wednesday . The stock traded as high as C$62.37 and last traded at C$61.71, with a volume of 5778 shares trading hands. The stock had previously closed at C$61.96.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CGO. CIBC lowered their price target on shares of Cogeco from C$69.00 to C$67.00 in a report on Monday. TD Securities lifted their target price on Cogeco from C$99.00 to C$104.00 in a research report on Monday. Finally, Canaccord Genuity Group upgraded Cogeco from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$65.00 to C$77.00 in a research note on Monday.

Cogeco Stock Down 0.6 %

The company has a debt-to-equity ratio of 151.56, a current ratio of 0.44 and a quick ratio of 0.51. The stock has a market capitalization of C$486.94 million, a price-to-earnings ratio of 7.34, a PEG ratio of -0.28 and a beta of 0.34. The firm’s fifty day moving average is C$58.31 and its 200-day moving average is C$54.13.

Cogeco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 14th will be paid a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Thursday, November 14th. This is a positive change from Cogeco’s previous quarterly dividend of $0.85. Cogeco’s dividend payout ratio is 40.76%.

Cogeco Company Profile

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.