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

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$66.80 and traded as high as C$69.75. Cogeco Communications shares last traded at C$68.11, with a volume of 35,670 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CCA shares. Canaccord Genuity Group increased their price objective on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Scotiabank set a C$75.00 price objective on shares of Cogeco Communications and gave the stock a "sector perform" rating in a research note on Thursday, April 17th. Finally, Royal Bank of Canada increased their price objective on shares of Cogeco Communications from C$77.00 to C$78.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 9th. Three equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$76.10.

Cogeco Communications Stock Up 0.9%

The company has a market capitalization of C$2.88 billion, a P/E ratio of 8.29, a PEG ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. The stock has a 50 day moving average price of C$66.97 and a 200 day moving average price of C$66.73.

Cogeco Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, May 7th were given a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend was Wednesday, April 23rd. 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.