Cogeco Communications (TSE:CCA) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Cogeco Communications Inc. (TSE:CCA) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$66.12 and traded as high as C$67.30. Cogeco Communications shares last traded at C$66.97, with a volume of 50,927 shares.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Scotiabank cut their target price on shares of Cogeco Communications from C$75.50 to C$74.00 in a research note on Friday, October 31st. BMO Capital Markets cut their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st. National Bankshares downgraded Cogeco Communications from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$80.00 to C$69.00 in a research report on Tuesday, August 12th. Desjardins lowered their price target on Cogeco Communications from C$173.00 to C$171.00 and set a “hold” rating on the stock in a research note on Monday, November 3rd. Finally, CIBC reduced their price objective on Cogeco Communications from C$71.00 to C$68.00 in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$87.25.

Cogeco Communications Price Performance

The company has a 50-day moving average of C$65.70 and a 200 day moving average of C$66.12. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. The firm has a market cap of C$2.82 billion, a P/E ratio of 8.81, a P/E/G ratio of 4.77 and a beta of 0.55.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 26th were paid a $0.987 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $3.95 annualized dividend and a dividend yield of 5.9%. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.92. 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.