Cogeco Communications (TSE:CCA) Shares Cross Above 200 Day Moving Average – Here’s Why

Cogeco Communications Inc. (TSE:CCA)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$67.04 and traded as high as C$67.24. Cogeco Communications shares last traded at C$65.77, with a volume of 85,607 shares.

Analysts Set New Price Targets

Several analysts recently commented on the company. BMO Capital Markets upped their target price on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. CIBC reduced their target price on Cogeco Communications from C$73.00 to C$71.00 in a report on Wednesday, January 15th. Scotiabank reduced their target price on Cogeco Communications from C$77.50 to C$75.50 in a report on Wednesday, January 15th. TD Securities upped their target price on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Finally, Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and upped their target price for the company from C$65.00 to C$77.00 in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$76.17.

Cogeco Communications Price Performance

The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35. The business has a 50-day moving average price of C$64.75 and a two-hundred day moving average price of C$67.06. The company has a market capitalization of C$2.76 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59.

Cogeco Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 10th were given a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date was Monday, January 27th. Cogeco Communications’s payout ratio is 41.40%.

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.