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Cogeco Communications (TSE:CCA) Shares Cross Above 200 Day Moving Average - Here's Why

Cogeco Communications logo with Communication Services background

Cogeco Communications Inc. (TSE:CCA - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$66.48 and traded as high as C$68.99. Cogeco Communications shares last traded at C$68.94, with a volume of 76,232 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCA. Royal Bank Of Canada lifted their price objective on shares of Cogeco Communications from C$77.00 to C$78.00 and gave the company a "sector perform" rating in a report on Wednesday, April 9th. Canaccord Genuity Group lifted their price objective on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a "buy" rating in a report on Friday, April 11th. Scotiabank set a C$75.00 price objective on shares of Cogeco Communications and gave the company a "sector perform" rating in a report on Thursday, April 17th. Finally, National Bankshares set a C$85.00 price objective on shares of Cogeco Communications and gave the company an "outperform" rating in a report on Friday, June 6th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$76.60.

Check Out Our Latest Stock Report on Cogeco Communications

Cogeco Communications Stock Performance

The firm has a market capitalization of C$2.91 billion, a price-to-earnings ratio of 8.38, a P/E/G ratio of 4.77 and a beta of 0.59. The stock's fifty day moving average is C$67.73 and its two-hundred day moving average is C$66.38. The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35.

Cogeco Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, May 7th were issued 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 5.33%. Cogeco Communications's payout ratio is 41.40%.

Cogeco Communications Company Profile

(Get Free Report)

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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