Cogeco Communications (TSE:CCA) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$67.22 and traded as high as C$68.64. Cogeco Communications shares last traded at C$67.27, with a volume of 67,471 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CCA shares. CIBC cut their target price on shares of Cogeco Communications from C$73.00 to C$71.00 in a research note on Wednesday, January 15th. Scotiabank reduced their price target on shares of Cogeco Communications from C$77.50 to C$75.50 in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$76.17.

Cogeco Communications Stock Performance

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$2.83 billion, a PE ratio of 8.14, a PEG ratio of 4.77 and a beta of 0.59. The business’s 50 day moving average is C$64.52 and its 200 day moving average is C$67.22.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 10th were paid a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date was Monday, January 27th. Cogeco Communications’s dividend payout ratio is currently 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.