Cogeco Communications (TSE:CCA) Share Price Passes Above 200 Day Moving Average – What’s Next?

Cogeco Communications Inc. (TSE:CCA) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$66.91 and traded as high as C$67.27. Cogeco Communications shares last traded at C$66.87, with a volume of 35,856 shares.

Analysts Set New Price Targets

Several research firms recently commented on CCA. Royal Bank of Canada raised their price objective on shares of Cogeco Communications from C$77.00 to C$78.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 9th. Scotiabank set a C$75.00 price objective on shares of Cogeco Communications and gave the stock a “sector perform” rating in a report on Thursday, April 17th. Canaccord Genuity Group raised their price objective on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, CIBC cut their price objective on shares of Cogeco Communications from C$73.00 to C$71.00 in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cogeco Communications currently has an average rating of “Moderate Buy” and an average price target of C$76.10.

Cogeco Communications Stock Performance

The company’s fifty day simple moving average is C$66.70 and its 200 day simple moving average is C$66.91. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. The stock has a market capitalization of C$2.81 billion, a P/E ratio of 8.09, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, May 7th were issued a $0.922 dividend. This represents a $3.69 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Wednesday, April 23rd. Cogeco Communications’s payout ratio is 41.40%.

Cogeco Communications Company Profile

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.