Cogeco (TSE:CGO) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Cogeco Inc. (TSE:CGO) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$66.78 and traded as low as C$61.92. Cogeco shares last traded at C$61.92, with a volume of 35,545 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD upgraded Cogeco from a “hold” rating to a “buy” rating and dropped their price target for the company from C$85.00 to C$81.00 in a research report on Monday, April 13th. TD Securities raised Cogeco from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy” and a consensus target price of C$77.33.

Cogeco Trading Down 2.5%

The firm has a market cap of C$586.38 million, a PE ratio of 7.09, a P/E/G ratio of -0.28 and a beta of 0.77. The company’s fifty day moving average price is C$63.63 and its two-hundred day moving average price is C$66.78. The company has a quick ratio of 0.51, a current ratio of 0.50 and a debt-to-equity ratio of 531.92.

Cogeco (TSE:CGO) last issued its quarterly earnings results on Thursday, April 9th. The company reported C$2.12 earnings per share (EPS) for the quarter. The business had revenue of C$713.03 million for the quarter. Cogeco had a net margin of 2.86% and a return on equity of 9.64%. As a group, sell-side analysts forecast that Cogeco Inc. will post 11.054717 earnings per share for the current fiscal 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.