Cogeco Communications (TSE:CCA) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Cogeco Communications Inc. (TSE:CCA - Get Free Report)'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$66.61 and traded as high as C$68.47. Cogeco Communications shares last traded at C$67.70, with a volume of 21,606 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. National Bankshares set a C$85.00 target price on shares of Cogeco Communications and gave the stock an "outperform" rating in a report on Friday, June 6th. Royal Bank Of Canada raised their target price on shares of 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. Canaccord Genuity Group increased their price target 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. Finally, Scotiabank set a C$75.00 price target on shares of Cogeco Communications and gave the company a "sector perform" rating in a report on Thursday, April 17th. Three 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$76.60.

Cogeco Communications Stock Down 0.9%

The company's 50 day moving average price is C$67.07 and its two-hundred day moving average price is C$66.61. The firm has a market cap of C$2.85 billion, a PE ratio of 8.19, a PEG ratio of 4.77 and a beta of 0.59. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35.

Cogeco Communications Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Wednesday, April 23rd. This represents a $3.69 annualized dividend and a dividend yield of 5.45%. Cogeco Communications's payout ratio is 41.40%.

About Cogeco Communications

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.