Cogeco (TSE:CGO) Stock Passes Above 50 Day Moving Average – Time to Sell?

Cogeco Inc. (TSE:CGO)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$70.63 and traded as high as C$73.99. Cogeco shares last traded at C$73.34, with a volume of 10,137 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CGO. Canadian Imperial Bank of Commerce lifted their price target on Cogeco from C$61.00 to C$66.00 in a research note on Friday, January 16th. TD Securities increased their price objective on shares of Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$93.00.

Cogeco Trading Up 0.3%

The business has a 50 day moving average of C$70.63 and a 200-day moving average of C$64.86. The stock has a market cap of C$694.38 million, a PE ratio of 8.49, a price-to-earnings-growth ratio of -0.28 and a beta of 0.82. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 540.51.

Cogeco (TSE:CGO) last released its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share for the quarter. Cogeco had a return on equity of 9.61% and a net margin of 2.80%.The company had revenue of C$735.64 million during the quarter. On average, analysts anticipate that Cogeco Inc. will post 11.054717 EPS for the current year.

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.