Cogeco Communications (TSE:CCA) Shares Pass Above 200-Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$64.50 and traded as high as C$67.90. Cogeco Communications shares last traded at C$67.35, with a volume of 33,654 shares.

Analyst Ratings Changes

A number of equities analysts have commented on CCA shares. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$64.00 to C$80.00 in a research report on Friday, September 20th. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada boosted their target price on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. BMO Capital Markets raised their price target on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Finally, Scotiabank upped their price objective on Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$77.06.

Cogeco Communications Stock Performance

The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The company has a market capitalization of C$2.06 billion, a PE ratio of 8.76, a P/E/G ratio of 4.77 and a beta of 0.59. The stock has a 50-day simple moving average of C$69.35 and a 200 day simple moving average of C$64.60.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were paid a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a yield of 5.37%. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, November 14th. Cogeco Communications’s dividend payout ratio is presently 43.62%.

Insiders Place Their Bets

In related news, Director Robin Anne Bienenstock acquired 2,156 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were acquired at an average price of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the completion of the transaction, the director now directly owns 1 shares of the company’s stock, valued at C$68.86. The trade was a 99.85 % decrease in their position. 0.46% of the stock is currently owned by company insiders.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.