Cogeco Communications (TSE:CCA) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$65.68 and traded as high as C$67.25. Cogeco Communications shares last traded at C$66.64, with a volume of 151,902 shares.

Wall Street Analyst Weigh In

CCA has been the topic of a number of recent research reports. TD Securities lifted their target price on Cogeco Communications from C$95.00 to C$100.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Scotiabank lifted their target price on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a research report on Monday, January 12th. BMO Capital Markets reduced their price target on shares of Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st. National Bankshares raised their price objective on shares of Cogeco Communications from C$66.00 to C$71.00 in a research note on Friday, January 16th. Finally, Desjardins raised shares of Cogeco Communications to a “hold” rating in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$76.03.

Cogeco Communications Stock Up 0.2%

The firm has a market capitalization of C$2.80 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 4.77 and a beta of 0.87. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. The business’s 50 day moving average is C$67.49 and its 200-day moving average is C$65.68.

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

Cogeco Communications Increases Dividend

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

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. 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.