Cogeco Communications (TSE:CCA) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Cogeco Communications Inc. (TSE:CCA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$67.71 and traded as high as C$70.17. Cogeco Communications shares last traded at C$69.97, with a volume of 104,844 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCA. Canadian Imperial Bank of Commerce boosted their price target on Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. TD Securities cut Cogeco Communications from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$100.00 to C$85.00 in a research note on Thursday, March 26th. Scotiabank boosted 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. Desjardins upgraded Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. Finally, National Bank Financial raised Cogeco Communications from a “hold” rating to an “outperform” rating and lifted their price target for the stock from C$71.00 to C$80.00 in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cogeco Communications has an average rating of “Hold” and a consensus target price of C$75.28.

Cogeco Communications Stock Up 0.2%

The company has a market cap of C$2.94 billion, a P/E ratio of 9.57, a P/E/G ratio of 4.77 and a beta of 1.01. The company has a debt-to-equity ratio of 143.75, a current ratio of 0.40 and a quick ratio of 0.49. The company’s 50-day moving average is C$70.47 and its two-hundred day moving average is C$67.71.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data 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. As a group, equities analysts predict that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Company Profile

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.