Cogeco (TSE:CGO) Reaches New 12-Month Low – Time to Sell?

Cogeco Inc. (TSE:CGO) shares hit a new 52-week low on Tuesday. The company traded as low as C$45.91 and last traded at C$45.21, with a volume of 40,251 shares trading hands. The stock had previously closed at C$44.83.

Wall Street Analyst Weigh In

Separately, Canadian Imperial Bank of Commerce decreased their price objective on shares of Cogeco from C$67.00 to C$60.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Cogeco currently has an average rating of “Buy” and an average target price of C$75.33.

Cogeco Stock Up 1.5%

The business’s fifty day moving average is C$54.30 and its two-hundred day moving average is C$60.32. The company has a quick ratio of 0.51, a current ratio of 0.49 and a debt-to-equity ratio of 961.67. The stock has a market cap of C$430.88 million, a price-to-earnings ratio of -1.26, a PEG ratio of -0.28 and a beta of 0.92.

Cogeco (TSE:CGO) last released its earnings results on Wednesday, July 15th. The company reported C$3.10 earnings per share for the quarter. Cogeco had a negative net margin of 11.78% and a negative return on equity of 43.86%. The firm had revenue of C$724.17 million for the quarter. Equities analysts forecast that Cogeco Inc. will post 11.05 earnings per share for the current fiscal year.

About Cogeco

Cogeco Inc is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc, we provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Through Cogeco Media, we operate 21 radio stations in Canada, primarily in the province of Quebec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.