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

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$67.18 and traded as high as C$73.94. Cogeco Communications shares last traded at C$73.57, with a volume of 99,840 shares changing hands.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Scotiabank boosted their price objective on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research note on Monday, January 12th. TD Securities increased their target price on Cogeco Communications from C$95.00 to C$100.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Canadian Imperial Bank of Commerce raised their price target on Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. Desjardins raised Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. Finally, National Bank Financial raised Cogeco Communications from a “hold” rating to an “outperform” rating and raised their target price for the company from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$77.16.

Cogeco Communications Stock Performance

The company has a current ratio of 0.40, a quick ratio of 0.49 and a debt-to-equity ratio of 143.75. The stock’s 50 day moving average is C$70.15 and its 200 day moving average is C$67.25. The stock has a market capitalization of C$3.14 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 4.77 and a beta of 1.01.

Cogeco Communications (TSE:CCA) last announced its earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share (EPS) for the quarter. Cogeco Communications had a net margin of 10.79% and a return on equity of 9.79%. The company had revenue of C$707.25 million during the quarter. On average, analysts predict that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current year.

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.