Cogeco Communications (TSE:CCA) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Cogeco Communications Inc. (TSE:CCA)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$67.15 and traded as low as C$63.77. Cogeco Communications shares last traded at C$63.87, with a volume of 89,459 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCA. Royal Bank Of Canada raised their target price on Cogeco Communications from C$76.00 to C$77.00 and gave the company a “sector perform” rating in a research report on Thursday, April 9th. TD Securities upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. TD raised Cogeco Communications from a “hold” rating to a “buy” rating and reduced their price objective for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. Scotiabank decreased their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a report on Monday, April 13th. Finally, Canaccord Genuity Group lowered their target price on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$75.11.

Cogeco Communications Stock Performance

The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 141.57. The stock’s fifty day simple moving average is C$64.32 and its 200 day simple moving average is C$67.12. The company has a market cap of C$2.67 billion, a price-to-earnings ratio of 8.53, a P/E/G ratio of 4.77 and a beta of 0.93.

Cogeco Communications (TSE:CCA) last issued its earnings results on Thursday, April 9th. The company reported C$1.96 earnings per share for the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%.The business had revenue of C$693.56 million for the quarter. As a group, analysts anticipate that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Investors of record on Thursday, May 7th were given a dividend of $0.987 per share. The ex-dividend date was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a yield of 6.2%. Cogeco Communications’s dividend payout ratio (DPR) is presently 51.32%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.