Cogeco (TSE:CGO) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of Cogeco Inc. (TSE:CGO) have fallen below their two hundred day moving average, trading as low as C$59.34, with the last recorded price at C$59.63.
• TD Securities has reduced their target price on Cogeco from C$106.00 to C$105.00 while maintaining a "buy" rating.
• Cogeco has a market capitalization of C$566.10 million and significant debt-to-equity ratio of 605.15, highlighting its financial position.

Shares of Cogeco Inc. (TSE:CGO - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$61.29 and traded as low as C$59.34. Cogeco shares last traded at C$59.63, with a volume of 29,945 shares traded.

Wall Street Analysts Forecast Growth

Separately, TD Securities decreased their target price on Cogeco from C$106.00 to C$105.00 and set a "buy" rating on the stock in a research report on Friday, April 11th.

Cogeco Stock Down 0.9%

The business has a 50 day simple moving average of C$65.05 and a 200 day simple moving average of C$61.28. The company has a market capitalization of C$566.10 million, a price-to-earnings ratio of 6.14, a PEG ratio of -0.28 and a beta of 0.34. The company has a debt-to-equity ratio of 605.15, a current ratio of 0.40 and a quick ratio of 0.51.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas.

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