Cogeco Communications (TSE:CCA) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$67.30 and traded as high as C$67.65. Cogeco Communications shares last traded at C$67.62, with a volume of 42,502 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCA. Scotiabank reduced their price objective on Cogeco Communications from C$77.50 to C$75.50 in a research note on Wednesday, January 15th. CIBC reduced their price target on shares of Cogeco Communications from C$73.00 to C$71.00 in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cogeco Communications has an average rating of “Moderate Buy” and a consensus price target of C$76.17.

Cogeco Communications Price Performance

The company has a market capitalization of C$2.84 billion, a P/E ratio of 8.18, a PEG ratio of 4.77 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35. The business has a 50 day simple moving average of C$64.58 and a 200-day simple moving average of C$67.30.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 10th were given a $0.922 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $3.69 annualized dividend and a yield of 5.45%. Cogeco Communications’s dividend payout ratio is presently 41.40%.

About Cogeco Communications

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.