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

Cogeco Communications Inc. (TSE:CCA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$65.68 and traded as high as C$67.25. Cogeco Communications shares last traded at C$66.64, with a volume of 151,902 shares trading hands.

Wall Street Analyst Weigh In

CCA has been the subject of several recent research reports. BMO Capital Markets dropped their price target on Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st. Canadian Imperial Bank of Commerce increased their price objective on Cogeco Communications from C$68.00 to C$71.00 in a research note on Friday, January 16th. Scotiabank boosted their target price on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research note on Monday, January 12th. National Bankshares lifted their price target on shares of Cogeco Communications from C$66.00 to C$71.00 in a report on Friday, January 16th. Finally, Desjardins raised shares of Cogeco Communications to a “hold” rating in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cogeco Communications presently has an average rating of “Hold” and a consensus price target of C$76.03.

Cogeco Communications Stock Performance

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 company has a market capitalization of C$2.80 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 4.77 and a beta of 0.87. The stock has a 50-day simple moving average of C$67.49 and a 200-day simple moving average of C$65.68.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share (EPS) for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%.The business had revenue of C$707.25 million for the quarter. On average, analysts anticipate that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current year.

Cogeco Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 26th were issued a $0.987 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.92. This represents a $3.95 annualized dividend and a yield of 5.9%. Cogeco Communications’s dividend payout ratio is currently 51.34%.

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. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.