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

Cogeco Communications Inc. (TSE:CCA)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$61.54 and traded as high as C$69.57. Cogeco Communications shares last traded at C$69.23, with a volume of 20,827 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCA. Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. Scotiabank upped their price objective on Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$64.00 to C$80.00 in a report on Friday, September 20th. TD Securities upped their price objective on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Finally, BMO Capital Markets upped their price objective on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$75.50.

Cogeco Communications Trading Up 0.5 %

The stock has a market capitalization of C$2.08 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. The firm has a fifty day moving average of C$69.22 and a 200-day moving average of C$61.54.

Cogeco Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 28th will be issued a $0.922 dividend. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 annualized dividend and a yield of 5.33%. The ex-dividend date is Thursday, November 14th. Cogeco Communications’s dividend payout ratio is currently 43.62%.

Cogeco Communications Company Profile

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.