Cogeco Communications (TSE:CCA) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Cogeco Communications Inc. (TSE:CCA)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$65.74 and traded as high as C$67.23. Cogeco Communications shares last traded at C$66.49, with a volume of 399,150 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCA. Desjardins set a C$71.00 price target on shares of Cogeco Communications and gave the stock a “hold” rating in a research report on Monday, January 12th. BMO Capital Markets dropped their target price on shares of Cogeco Communications from C$75.00 to C$70.00 in a report on Friday, October 31st. National Bankshares raised their target price on shares of Cogeco Communications from C$66.00 to C$71.00 in a report on Friday, January 16th. CIBC lifted their price target on shares of Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. Finally, Scotiabank increased their price objective on Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cogeco Communications has an average rating of “Hold” and an average price target of C$76.03.

Cogeco Communications Stock Performance

The firm’s 50 day simple moving average is C$67.64 and its 200-day simple moving average is C$65.74. The company has a market capitalization of C$2.79 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 4.77 and a beta of 0.65. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. The firm had revenue of C$707.25 million for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%. Analysts expect that Cogeco Communications Inc. will post 8.4900498 EPS for the current year.

Cogeco Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 26th were given a $0.987 dividend. This represents a $3.95 dividend on an annualized basis and a dividend yield of 5.9%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, November 12th. Cogeco Communications’s payout ratio is currently 51.34%.

About Cogeco Communications

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. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.