Cogeco Communications (TSE:CCA) Stock Price Passes Above 200 Day Moving Average After Analyst Downgrade

Key Points

• Cogeco Communications (TSE:CCA) stock recently surpassed its 200-day moving average after Scotiabank raised its price target from C$75.00 to C$75.50.
• The company declared a quarterly dividend of $0.922 per share, resulting in a 5.6% dividend yield for investors.
• Currently, Cogeco Communications holds a consensus rating of "Hold" from analysts, with an average price target of C$75.28.

Cogeco Communications Inc. (TSE:CCA - Get Free Report) passed above its two hundred day moving average during trading on Monday after Scotiabank raised their price target on the stock from C$75.00 to C$75.50. The stock has a two hundred day moving average of C$66.21 and traded as high as C$66.53. Scotiabank currently has a sector perform rating on the stock. Cogeco Communications shares last traded at C$65.91, with a volume of 103,080 shares traded.

CCA has been the topic of several other reports. CIBC decreased their price target on shares of Cogeco Communications from C$71.00 to C$68.00 in a research report on Friday. Royal Bank Of Canada decreased their price target on shares of Cogeco Communications from C$75.00 to C$74.00 in a research report on Thursday, July 17th. Desjardins set a C$73.00 price target on shares of Cogeco Communications and gave the stock a "hold" rating in a research report on Thursday, October 9th. BMO Capital Markets reduced their price objective on shares of Cogeco Communications from C$80.00 to C$75.00 in a report on Thursday, July 17th. Finally, National Bank Financial downgraded shares of Cogeco Communications from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Cogeco Communications presently has a consensus rating of "Hold" and an average price target of C$75.28.

Cogeco Communications Stock Down 1.0%

The business's fifty day moving average price is C$64.34 and its 200 day moving average price is C$66.21. The company has a market capitalization of C$2.78 billion, a P/E ratio of 8.54, a P/E/G ratio of 4.77 and a beta of 0.52. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 12th were issued a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, July 29th. Cogeco Communications's dividend payout ratio (DPR) is currently 46.89%.

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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