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

Cogeco Communications Inc. (TSE:CCA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$66.48 and traded as high as C$73.11. Cogeco Communications shares last traded at C$72.00, with a volume of 35,701 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank set a C$75.00 target price on Cogeco Communications and gave the company a "sector perform" rating in a research note on Thursday, April 17th. Canaccord Genuity Group lifted their target price on Cogeco Communications from C$76.00 to C$77.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Royal Bank Of Canada lifted their target price on Cogeco Communications from C$77.00 to C$78.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 9th. Finally, National Bankshares set a C$85.00 target price on Cogeco Communications and gave the company an "outperform" rating in a research note on Friday, June 6th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$76.60.

Cogeco Communications Trading Down 1.2%

The firm has a market cap of C$3.03 billion, a P/E ratio of 8.72, a PEG ratio of 4.77 and a beta of 0.59. The company has a 50 day moving average of C$68.24 and a 200 day moving average of C$66.48. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37.

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, May 7th were given a dividend of $0.922 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $3.69 dividend on an annualized basis and a yield of 5.12%. Cogeco Communications's payout ratio is currently 41.40%.

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.

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