Cogeco Communications (TSE:CCA) Stock Price Passes Above 200-Day Moving Average of $59.39

Cogeco Communications Inc. (TSE:CCAGet Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$59.39 and traded as high as C$59.99. Cogeco Communications shares last traded at C$59.95, with a volume of 126,050 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCA. Veritas Investment Research reaffirmed a “buy” rating on shares of Cogeco Communications in a report on Wednesday, December 13th. Canaccord Genuity Group increased 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 report on Tuesday, January 9th. BMO Capital Markets raised their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. TD Securities raised their target price on shares of 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 lowered shares of Cogeco Communications from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a research report on Friday, January 12th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from, the company presently has a consensus rating of “Hold” and an average target price of C$71.72.

Check Out Our Latest Stock Analysis on CCA

Cogeco Communications Stock Performance

The stock’s 50 day moving average price is C$61.19 and its 200 day moving average price is C$59.34. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. The firm has a market cap of C$1.81 billion, a PE ratio of 7.21, a P/E/G ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCAGet Free Report) last released its quarterly earnings results on Wednesday, January 10th. The company reported C$2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.72 by C$0.61. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The firm had revenue of C$747.69 million for the quarter, compared to the consensus estimate of C$755.50 million. As a group, equities analysts forecast that Cogeco Communications Inc. will post 8.4645892 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th were given a $0.854 dividend. This represents a $3.42 annualized dividend and a dividend yield of 5.70%. The ex-dividend date was Tuesday, January 23rd. Cogeco Communications’s payout ratio is currently 41.11%.

Insider Transactions at Cogeco Communications

In other news, Senior Officer Chantal Frappier sold 732 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of C$60.67, for a total value of C$44,410.44. Insiders own 0.45% of the company’s stock.

Cogeco Communications Company Profile

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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.

Further Reading

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