Cogeco Communications (TSE:CCA) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$67.26 and traded as low as C$63.63. Cogeco Communications shares last traded at C$64.37, with a volume of 109,686 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on CCA. TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Canaccord Genuity Group cut their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a report on Monday, April 13th. Royal Bank Of Canada raised their price objective on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a “sector perform” rating in a research note on Thursday, April 9th. Scotiabank lowered their target price on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a research report on Monday, April 13th. Finally, Desjardins dropped their target price on shares of Cogeco Communications from C$71.00 to C$68.00 and set a “hold” rating for the company in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$75.11.

Cogeco Communications Stock Performance

The stock has a 50-day simple moving average of C$64.22 and a 200 day simple moving average of C$67.26. The company has a debt-to-equity ratio of 141.57, a current ratio of 0.47 and a quick ratio of 0.49. The company has a market capitalization of C$2.70 billion, a PE ratio of 8.65, a P/E/G ratio of 4.77 and a beta of 0.93.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Thursday, April 9th. The company reported C$1.96 earnings per share for the quarter. The business had revenue of C$693.56 million during the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%. Equities analysts anticipate that Cogeco Communications Inc. will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.987 per share. This represents a $3.95 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Thursday, April 23rd. Cogeco Communications’s payout ratio is currently 51.32%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.