Cogeco Communications (TSE:CCA) Shares Cross Above 200 Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$65.06 and traded as high as C$69.13. Cogeco Communications shares last traded at C$68.89, with a volume of 41,429 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CCA shares. TD Securities raised their price target on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$64.00 to C$80.00 in a research report on Friday, September 20th. Scotiabank raised their price target on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and raised their target price for the stock from C$65.00 to C$77.00 in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cogeco Communications presently has an average rating of “Moderate Buy” and a consensus target price of C$77.06.

Cogeco Communications Price Performance

The firm has a 50-day simple moving average of C$69.24 and a two-hundred day simple moving average of C$65.27. The company has a market capitalization of C$2.03 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were issued a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a yield of 5.45%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, November 14th. Cogeco Communications’s dividend payout ratio (DPR) is 43.62%.

Insider Buying and Selling at Cogeco Communications

In related news, Director Jacques Royer sold 657 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total value of C$45,241.02. Following the completion of the transaction, the director now owns 1 shares of the company’s stock, valued at approximately C$68.86. This represents a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock acquired 2,156 shares of the company’s stock in a transaction on Friday, November 29th. The stock was acquired at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. 0.46% of the stock is currently owned by corporate insiders.

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.