Cogeco Communications (TSE:CCA) Stock Price Crosses Above Two Hundred Day Moving Average of $58.03

Cogeco Communications Inc. (TSE:CCA) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$58.03 and traded as high as C$64.94. Cogeco Communications shares last traded at C$64.31, with a volume of 21,787 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on CCA shares. Bank of America raised shares of Cogeco Communications from an “underperform” rating to a “buy” rating and increased their price target for the company from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. Desjardins raised their target price on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Royal Bank of Canada increased their price objective on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the company a “sector perform” rating in a report on Monday, July 15th. Finally, TD Securities upped their target price on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Cogeco Communications currently has a consensus rating of “Hold” and an average target price of C$68.83.

Cogeco Communications Price Performance

The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The firm has a market cap of C$1.94 billion, a P/E ratio of 8.24, a PEG ratio of 4.77 and a beta of 0.57. The company has a fifty day moving average price of C$59.94 and a two-hundred day moving average price of C$58.05.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Thursday, July 11th. The company reported C$2.45 earnings per share for the quarter, topping the consensus estimate of C$1.73 by C$0.72. The company had revenue of C$750.58 million during the quarter, compared to analysts’ expectations of C$751.50 million. Cogeco Communications had a return on equity of 10.52% and a net margin of 11.44%. Equities analysts anticipate that Cogeco Communications Inc. will post 8.2198221 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th were paid a $0.854 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.42 dividend on an annualized basis and a yield of 5.29%. Cogeco Communications’s dividend payout ratio is 43.62%.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.