Cogeco Communications (TSE:CCA) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Cogeco Communications Inc. (TSE:CCA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$67.30 and traded as high as C$67.65. Cogeco Communications shares last traded at C$67.62, with a volume of 42,502 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CCA shares. Scotiabank dropped their target price on Cogeco Communications from C$77.50 to C$75.50 in a report on Wednesday, January 15th. CIBC lowered their price objective on shares of Cogeco Communications from C$73.00 to C$71.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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 50-day simple moving average of C$64.58 and a 200-day simple moving average of C$67.30. The company has a market capitalization of C$2.84 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59.

Cogeco Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 10th were paid a dividend of $0.922 per share. The ex-dividend date was Monday, January 27th. This represents a $3.69 dividend on an annualized basis and a yield of 5.45%. Cogeco Communications’s dividend payout ratio (DPR) 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.