Cogeco (TSE:CGO) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Cogeco Inc. (TSE:CGO)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$66.75 and traded as low as C$64.32. Cogeco shares last traded at C$64.76, with a volume of 12,710 shares changing hands.

Wall Street Analyst Weigh In

CGO has been the subject of a number of research reports. TD raised Cogeco from a “hold” rating to a “buy” rating and dropped their target price for the stock from C$85.00 to C$81.00 in a report on Monday, April 13th. TD Securities raised Cogeco from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, Cogeco currently has an average rating of “Strong Buy” and a consensus target price of C$77.33.

Cogeco Stock Up 0.3%

The company has a debt-to-equity ratio of 531.92, a current ratio of 0.50 and a quick ratio of 0.51. The company has a market cap of C$613.28 million, a P/E ratio of 7.42, a PEG ratio of -0.28 and a beta of 0.77. The stock has a 50-day moving average of C$64.10 and a 200 day moving average of C$66.75.

Cogeco (TSE:CGO) last released its earnings results on Thursday, April 9th. The company reported C$2.12 earnings per share (EPS) for the quarter. Cogeco had a return on equity of 9.64% and a net margin of 2.86%.The firm had revenue of C$713.04 million for the quarter. Research analysts anticipate that Cogeco Inc. will post 11.054717 earnings per share 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.