Cogeco Communications (TSE:CCA) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$67.18 and traded as high as C$73.94. Cogeco Communications shares last traded at C$73.57, with a volume of 99,840 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CCA shares. Desjardins raised shares of Cogeco Communications to a “hold” rating in a research note on Wednesday, January 28th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce lifted their price objective on Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. TD Securities boosted their price objective on Cogeco Communications from C$95.00 to C$100.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Scotiabank lifted their target price on Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a report on Monday, January 12th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cogeco Communications currently has a consensus rating of “Moderate Buy” and an average price target of C$77.16.

Cogeco Communications Price Performance

The business has a 50-day moving average of C$70.02 and a 200 day moving average of C$67.18. The company has a current ratio of 0.40, a quick ratio of 0.49 and a debt-to-equity ratio of 143.75. The firm has a market capitalization of C$3.09 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 4.77 and a beta of 1.01.

Cogeco Communications (TSE:CCA) last announced 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 9.79% and a net margin of 10.79%.The business had revenue of C$707.25 million for the quarter. On average, sell-side analysts predict that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current fiscal year.

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.