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

Cogeco Communications Inc. (TSE:CCA)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$66.17 and traded as high as C$68.60. Cogeco Communications shares last traded at C$68.18, with a volume of 122,289 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on CCA shares. BMO Capital Markets cut their price objective on Cogeco Communications from C$75.00 to C$70.00 in a research note on Friday, October 31st. TD Securities dropped their price target on Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. CIBC decreased their price objective on shares of Cogeco Communications from C$71.00 to C$68.00 in a report on Friday, October 17th. National Bank Financial lowered shares of Cogeco Communications from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Finally, Scotiabank reduced their price target on shares of Cogeco Communications from C$75.50 to C$74.00 in a research report on Friday, October 31st. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Cogeco Communications has a consensus rating of “Hold” and a consensus target price of C$87.25.

Cogeco Communications Trading Up 1.4%

The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. The firm has a 50-day moving average price of C$65.19 and a 200-day moving average price of C$66.17. The company has a market capitalization of C$2.87 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 4.77 and a beta of 0.58.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.987 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.92. This represents a $3.95 dividend on an annualized basis and a yield of 5.8%. Cogeco Communications’s dividend payout ratio is presently 48.53%.

About Cogeco Communications

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.