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

Cogeco Communications Inc. (TSE:CCA)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analyst Ratings Changes

Several equities research analysts have commented on CCA shares. Canaccord Genuity Group raised their price target on shares of Cogeco Communications from C$63.00 to C$64.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. CIBC dropped their target price on Cogeco Communications from C$65.00 to C$63.00 and set a “neutral” rating on the stock in a report on Monday, December 18th. Veritas Investment Research restated a “buy” rating on shares of Cogeco Communications in a research report on Wednesday, December 13th. Royal Bank of Canada lifted their price target on Cogeco Communications from C$80.00 to C$84.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 13th. Finally, BMO Capital Markets upped 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. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cogeco Communications presently has an average rating of “Hold” and an average target price of C$71.72.

Cogeco Communications Stock Performance

The company has a debt-to-equity ratio of 136.39, a current ratio of 0.59 and a quick ratio of 0.49. The firm has a market capitalization of C$1.82 billion, a PE ratio of 7.22, a P/E/G ratio of 4.77 and a beta of 0.47. The firm has a fifty day moving average price of C$60.97 and a 200 day moving average price of C$59.03.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Wednesday, January 10th. The company reported C$2.33 EPS for the quarter, beating analysts’ consensus estimates of C$1.72 by C$0.61. The company had revenue of C$747.69 million during the quarter, compared to analyst estimates of C$755.50 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. Research analysts anticipate that Cogeco Communications Inc. will post 8.4745763 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th were given a dividend of $0.854 per share. This represents a $3.42 annualized dividend and a yield of 5.68%. The ex-dividend date of this dividend was Tuesday, January 23rd. Cogeco Communications’s payout ratio is 41.11%.

Insider Buying and Selling

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

About Cogeco Communications

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.