Cogeco Communications (TSE:CCA) Shares Cross Above 200-Day Moving Average – Should You Sell?

Cogeco Communications Inc. (TSE:CCA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$67.71 and traded as high as C$70.17. Cogeco Communications shares last traded at C$69.97, with a volume of 104,844 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Securities lowered Cogeco Communications from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$100.00 to C$85.00 in a research report on Thursday, March 26th. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to an “outperform” rating and lifted their price target for the stock from C$71.00 to C$80.00 in a research note on Wednesday, February 25th. Scotiabank boosted their price objective on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a report on Monday, January 12th. Canadian Imperial Bank of Commerce increased their price objective on shares of Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. Finally, Desjardins upgraded shares of Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Cogeco Communications has an average rating of “Hold” and an average target price of C$75.28.

Cogeco Communications Stock Performance

The business has a 50-day moving average of C$70.47 and a 200 day moving average of C$67.71. The company has a debt-to-equity ratio of 143.75, a current ratio of 0.40 and a quick ratio of 0.49. The company has a market cap of C$2.94 billion, a PE ratio of 9.57, a PEG ratio of 4.77 and a beta of 1.01.

Cogeco Communications (TSE:CCA) last announced its earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share (EPS) for the quarter. The business had revenue of C$707.25 million for the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%. Equities research analysts anticipate that Cogeco Communications Inc. will post 8.4900498 EPS for the current fiscal year.

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.