Cogeco Communications (TSE:CCA) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Cogeco Communications Inc. (TSE:CCA) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$64.50 and traded as high as C$67.90. Cogeco Communications shares last traded at C$67.35, with a volume of 33,654 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on CCA. Scotiabank upped their price target on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. TD Securities lifted their price target on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Finally, National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cogeco Communications has an average rating of “Moderate Buy” and an average target price of C$77.06.

Cogeco Communications Trading Up 1.0 %

The firm has a market capitalization of C$2.06 billion, a PE ratio of 8.76, a P/E/G ratio of 4.77 and a beta of 0.59. The company’s fifty day simple moving average is C$69.35 and its 200-day simple moving average is C$64.60. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49.

Cogeco Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were paid a $0.922 dividend. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Thursday, November 14th. Cogeco Communications’s dividend payout ratio is currently 43.62%.

Insiders Place Their Bets

In related news, Director Robin Anne Bienenstock purchased 2,156 shares of Cogeco Communications stock in a transaction dated Friday, November 29th. The shares were acquired at an average cost of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the transaction, the director now directly owns 1 shares of the company’s stock, valued at C$68.86. The trade was a 99.85 % decrease in their position. Corporate insiders own 0.46% 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.