Cogeco (TSE:CGO) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Cogeco Inc. (TSE:CGO) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$56.70 and traded as high as C$57.22. Cogeco shares last traded at C$57.22, with a volume of 21,906 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CGO. CIBC decreased their price target on shares of Cogeco from C$67.00 to C$64.00 in a research report on Wednesday, January 15th. TD Securities lifted their target price on Cogeco from C$99.00 to C$104.00 in a research report on Monday, November 4th. Finally, Canaccord Genuity Group raised Cogeco from a “hold” rating to a “buy” rating and boosted their price target for the company from C$65.00 to C$77.00 in a report on Monday, November 4th.

Cogeco Price Performance

The company has a current ratio of 0.40, a quick ratio of 0.51 and a debt-to-equity ratio of 605.15. The stock has a 50 day simple moving average of C$56.70 and a 200-day simple moving average of C$57.72. The firm has a market cap of C$543.22 million, a PE ratio of 5.89, a price-to-earnings-growth ratio of -0.28 and a beta of 0.34.

Cogeco Company Profile

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas.