Cogeco Communications (TSE:CCA) Stock Passes Above Two Hundred Day Moving Average of $59.03

Cogeco Communications Inc. (TSE:CCA - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$59.03 and traded as high as C$60.55. Cogeco Communications shares last traded at C$60.10, with a volume of 32,377 shares trading hands.

Analysts Set New Price Targets

CCA has been the topic of several research analyst reports. BMO Capital Markets boosted their price objective on Cogeco Communications from C$64.00 to C$65.00 and gave the company a "market perform" rating in a report on Friday, January 12th. CIBC lowered their price objective on Cogeco Communications from C$65.00 to C$63.00 and set a "neutral" rating for the company in a research report on Monday, December 18th. Veritas Investment Research reaffirmed a "buy" rating on shares of Cogeco Communications in a research report on Wednesday, December 13th. TD Securities upped their price objective on Cogeco Communications from C$87.00 to C$92.00 and gave the stock a "buy" rating in a research report on Monday, December 4th. Finally, Desjardins cut Cogeco Communications from a "buy" rating to a "hold" rating and set a C$70.00 price objective for the company. in a research report on Friday, January 12th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$71.72.

Cogeco Communications Trading Down 0.0 %

The business has a 50 day simple moving average of C$60.97 and a 200-day simple moving average of C$59.03. The stock has a market capitalization of C$1.82 billion, a P/E ratio of 7.22, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59.

Cogeco Communications (TSE:CCA - Get Free Report) last released its earnings results on Wednesday, January 10th. The company reported C$2.33 earnings per share for the quarter, topping analysts' consensus estimates of C$1.72 by C$0.61. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. The business had revenue of C$747.69 million for the quarter, compared to the consensus estimate of C$755.50 million. On average, analysts predict that Cogeco Communications Inc. will post 8.4745763 EPS for the current year.

Cogeco Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th were issued a dividend of $0.854 per share. This represents a $3.42 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date of this dividend was Tuesday, January 23rd. Cogeco Communications's dividend payout ratio is presently 41.11%.

Insiders Place Their Bets

In other news, Senior Officer Chantal Frappier sold 732 shares of the business's stock in a transaction on Friday, January 12th. The shares were sold at an average price of C$60.67, for a total value of C$44,410.44. Company insiders own 0.44% of the company's stock.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.