Cogeco (TSE:CGO) Reaches New 1-Year High – Here’s What Happened

Posted by Cheyenne Larson on Dec 3rd, 2024

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Securities raised their price target on Cogeco from C$99.00 to C$104.00 in a report on Monday, November 4th. CIBC reduced their price target 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 upped their target price for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th.

Read Our Latest Research Report on CGO

Cogeco Price Performance

The business’s fifty day moving average is C$60.45 and its 200 day moving average is C$55.12. The firm has a market capitalization of C$499.91 million, a P/E ratio of 7.34, a P/E/G 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 declared a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 14th were paid a $0.922 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a yield of 5.84%. This is a boost from Cogeco’s previous quarterly dividend of $0.85. Cogeco’s dividend payout ratio (DPR) is currently 40.76%.

About Cogeco

(Get Free Report)

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.