Cogeco (TSE:CGO) Hits New 52-Week High – Still a Buy?

Shares of Cogeco Inc. (TSE:CGO) reached a new 52-week high on Tuesday . The company traded as high as C$74.50 and last traded at C$74.08, with a volume of 6679 shares. The stock had previously closed at C$73.65.

Wall Street Analysts Forecast Growth

CGO has been the subject of several recent research reports. TD Securities upped their price target on Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a report on Friday, January 16th. Canadian Imperial Bank of Commerce boosted their price objective on Cogeco from C$61.00 to C$66.00 in a research report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$93.00.

Cogeco Stock Performance

The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 540.51. The firm has a market capitalization of C$701.48 million, a price-to-earnings ratio of 8.58, a PEG ratio of -0.28 and a beta of 0.73. The stock has a fifty day moving average price of C$68.46 and a 200-day moving average price of C$63.75.

Cogeco (TSE:CGO) last announced its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 EPS for the quarter. Cogeco had a return on equity of 9.61% and a net margin of 2.80%.The business had revenue of C$735.64 million for the quarter. As a group, analysts anticipate that Cogeco Inc. will post 11.054717 earnings per share for the current fiscal year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.