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

Cogeco Communications Inc. (TSE:CCA)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$65.96 and traded as high as C$66.19. Cogeco Communications shares last traded at C$66.07, with a volume of 15,152 shares trading hands.

Analysts Set New Price Targets

CCA has been the subject of a number of recent analyst reports. Desjardins decreased their price target on Cogeco Communications from C$173.00 to C$171.00 and set a “hold” rating for the company in a report on Monday, November 3rd. CIBC cut their target price on Cogeco Communications from C$71.00 to C$68.00 in a research report on Friday, October 17th. TD Securities lowered their price target on Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Scotiabank dropped their price target on shares of Cogeco Communications from C$75.50 to C$74.00 in a research note on Friday, October 31st. Finally, BMO Capital Markets cut their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Cogeco Communications currently has an average rating of “Hold” and a consensus price target of C$87.25.

Cogeco Communications Price Performance

The firm has a market capitalization of C$2.78 billion, a PE ratio of 8.69, a P/E/G ratio of 4.77 and a beta of 0.55. 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 company has a fifty day moving average price of C$66.12 and a two-hundred day moving average price of C$65.95.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$2.09 EPS for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%.The company had revenue of C$708.69 million for the quarter. Sell-side analysts forecast that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current year.

Cogeco Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 26th were issued a $0.987 dividend. This represents a $3.95 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Wednesday, November 12th. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.92. Cogeco Communications’s dividend payout ratio is presently 48.53%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.