Cogeco Communications (OTCMKTS:CGEAF) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Cogeco Communications Inc. (OTCMKTS:CGEAF)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $48.37 and traded as high as $48.41. Cogeco Communications shares last traded at $48.41, with a volume of 1,741 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CGEAF. CIBC reaffirmed a “neutral” rating on shares of Cogeco Communications in a report on Friday, January 16th. TD Securities reaffirmed a “buy” rating on shares of Cogeco Communications in a report on Friday, October 31st. National Bankshares reissued a “sector perform” rating on shares of Cogeco Communications in a report on Friday, October 31st. Scotiabank reissued a “sector perform” rating on shares of Cogeco Communications in a report on Monday, January 12th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Cogeco Communications in a research report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Hold”.

Cogeco Communications Stock Performance

The stock has a fifty day simple moving average of $48.37 and a two-hundred day simple moving average of $47.23.

About Cogeco Communications

Cogeco Communications Inc is a Canadian telecommunications company that provides broadband internet, cable television and telephony services to both residential and business customers. The company’s operations are structured around two primary networks: its Canadian footprint serving markets across Ontario and Quebec, and Atlantic Broadband, its U.S. cable subsidiary operating in several states along the East Coast. Leveraging a combination of fiber-optic and hybrid fiber-coaxial infrastructure, Cogeco Communications delivers high-speed internet access, digital video, voice-over-IP and managed network solutions.

Founded in 1957 and headquartered in Montreal, Quebec, Cogeco Communications has expanded through organic growth and strategic acquisitions.