Cogeco (TSE:CGO) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Cogeco Inc. (TSE:CGO) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$70.63 and traded as high as C$73.99. Cogeco shares last traded at C$73.34, with a volume of 10,137 shares traded.

Wall Street Analyst Weigh In

CGO has been the subject of several recent analyst reports. TD Securities raised their price target on Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a report on Friday, January 16th. Canadian Imperial Bank of Commerce upped their price objective on Cogeco from C$61.00 to C$66.00 in a report on Friday, January 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$93.00.

Cogeco Stock Up 0.3%

The company has a debt-to-equity ratio of 540.51, a current ratio of 0.44 and a quick ratio of 0.51. The firm’s 50-day simple moving average is C$70.63 and its two-hundred day simple moving average is C$64.86. The company has a market capitalization of C$694.38 million, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of -0.28 and a beta of 0.82.

Cogeco (TSE:CGO) last posted its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share (EPS) for the quarter. The company had revenue of C$735.64 million during the quarter. Cogeco had a net margin of 2.80% and a return on equity of 9.61%. Sell-side analysts predict that Cogeco Inc. will post 11.054717 EPS for the current fiscal year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.