Cogeco Communications (TSE:CCA) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$66.17 and traded as high as C$68.60. Cogeco Communications shares last traded at C$68.18, with a volume of 122,289 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CCA shares. Scotiabank cut their price objective on Cogeco Communications from C$75.50 to C$74.00 in a research report on Friday, October 31st. National Bank Financial lowered Cogeco Communications from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. CIBC reduced their target price on Cogeco Communications from C$71.00 to C$68.00 in a report on Friday, October 17th. TD Securities dropped their price target on Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, National Bankshares downgraded Cogeco Communications from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$80.00 to C$69.00 in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$87.25.

Cogeco Communications Stock Up 1.4%

The firm has a market cap of C$2.87 billion, a PE ratio of 8.97, a P/E/G ratio of 4.77 and a beta of 0.58. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49. The business has a fifty day moving average price of C$65.19 and a two-hundred day moving average price of C$66.17.

Cogeco Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 26th will be issued a $0.987 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $3.95 dividend on an annualized basis and a dividend yield of 5.8%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.92. Cogeco Communications’s dividend payout ratio is currently 48.53%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services.