Cogeco Communications (TSE:CCA) Stock Passes Above 200-Day Moving Average – Should You Sell?

Cogeco Communications Inc. (TSE:CCA)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$66.48 and traded as high as C$73.11. Cogeco Communications shares last traded at C$72.00, with a volume of 35,701 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada upped their target price on Cogeco Communications from C$77.00 to C$78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 9th. Canaccord Genuity Group upped their target price on Cogeco Communications from C$76.00 to C$77.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. National Bankshares set a C$85.00 target price on Cogeco Communications and gave the stock an “outperform” rating in a research report on Friday, June 6th. Finally, Scotiabank set a C$75.00 price target on Cogeco Communications and gave the stock a “sector perform” rating in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cogeco Communications has an average rating of “Moderate Buy” and a consensus target price of C$76.60.

Cogeco Communications Trading Down 1.2%

The company has a market capitalization of C$3.03 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The business has a fifty day moving average price of C$68.24 and a 200 day moving average price of C$66.48. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49.

Cogeco Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, May 7th were paid a $0.922 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.12%. Cogeco Communications’s payout ratio is 41.40%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services.