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

Cogeco Communications Inc. (TSE:CCA) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$67.15 and traded as low as C$63.77. Cogeco Communications shares last traded at C$63.87, with a volume of 89,459 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on CCA shares. Royal Bank Of Canada raised their price target on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 9th. Canaccord Genuity Group lowered their price objective on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research report on Monday, April 13th. TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. TD raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and reduced their target price for the stock from C$85.00 to C$83.00 in a research report on Monday, April 13th. Finally, Desjardins decreased their price target on shares of Cogeco Communications from C$71.00 to C$68.00 and set a “hold” rating for the company in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$75.11.

Cogeco Communications Trading Up 0.6%

The company has a debt-to-equity ratio of 141.57, a quick ratio of 0.49 and a current ratio of 0.47. The company has a market capitalization of C$2.68 billion, a P/E ratio of 8.58, a PEG ratio of 4.77 and a beta of 0.93. The company’s fifty day simple moving average is C$64.29 and its 200-day simple moving average is C$67.15.

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

Cogeco Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Investors of record on Thursday, May 7th were paid a $0.987 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a yield of 6.2%. Cogeco Communications’s payout ratio is 51.32%.

Cogeco Communications Company Profile

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.