Cogeco (TSE:CGO) Issues Earnings Results

Cogeco (TSE:CGO) issued its earnings results on Wednesday. The company reported C$3.00 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$735.64 million during the quarter. Cogeco had a net margin of 3.00% and a return on equity of 11.28%.

Cogeco Stock Up 1.6%

Shares of Cogeco stock traded up C$1.06 on Wednesday, reaching C$66.13. 22,082 shares of the company were exchanged, compared to its average volume of 19,688. The stock’s 50 day moving average price is C$63.20 and its 200-day moving average price is C$61.96. The company has a market cap of C$628.17 million, a P/E ratio of 7.51, a price-to-earnings-growth ratio of -0.28 and a beta of 0.54. Cogeco has a 1-year low of C$51.56 and a 1-year high of C$69.50. The company has a debt-to-equity ratio of 605.15, a current ratio of 0.40 and a quick ratio of 0.51.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Securities dropped their price objective on Cogeco from C$115.00 to C$110.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. CIBC dropped their price target on shares of Cogeco from C$64.00 to C$61.00 in a research note on Friday, October 17th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$85.50.

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.