Cogeco (TSE:CGO) Share Price Passes Below 200-Day Moving Average of $54.43

Cogeco Inc. (TSE:CGO)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$54.43 and traded as low as C$53.54. Cogeco shares last traded at C$53.69, with a volume of 8,136 shares.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered their price target on Cogeco from C$110.00 to C$106.00 and set a “buy” rating for the company in a research report on Monday, April 15th.

Cogeco Price Performance

The company has a debt-to-equity ratio of 152.98, a current ratio of 0.57 and a quick ratio of 0.51. The business has a 50 day moving average of C$55.13 and a 200 day moving average of C$54.43. The company has a market cap of C$431.67 million, a PE ratio of 12.81, a price-to-earnings-growth ratio of -0.28 and a beta of 0.25.

Cogeco (TSE:CGO) last posted its earnings results on Thursday, April 11th. The company reported C$2.33 EPS for the quarter. Cogeco had a net margin of 1.74% and a return on equity of 9.40%. The firm had revenue of C$751.91 million during the quarter. As a group, research analysts predict that Cogeco Inc. will post 12.0733945 EPS for the current year.

Cogeco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.854 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.36%. Cogeco’s dividend payout ratio (DPR) is 81.62%.

About Cogeco

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.