Cogeco Communications (TSE:CCA) Shares Cross Above 200 Day Moving Average – Here’s What Happened
by Doug Wharley · The Cerbat GemCogeco Communications Inc. (TSE:CCA – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.
Wall Street Analyst Weigh In
Several brokerages have commented on CCA. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to an “outperform” rating and boosted their price objective for the company from C$71.00 to C$80.00 in a research report on Wednesday, February 25th. Desjardins raised Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. TD Securities downgraded Cogeco Communications from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$100.00 to C$85.00 in a research report on Thursday, March 26th. Scotiabank lifted their target price on Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Cogeco Communications from C$68.00 to C$71.00 in a research note on Friday, January 16th. Two 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, Cogeco Communications currently has a consensus rating of “Hold” and an average price target of C$75.28.
Get Our Latest Stock Report on CCA
Cogeco Communications Price Performance
The company has a market capitalization of C$2.94 billion, a price-to-earnings 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 firm’s fifty day moving average price is C$70.43 and its 200-day moving average price is C$67.74.
Cogeco Communications (TSE:CCA – Get Free Report) last issued its quarterly earnings data on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. The business had revenue of C$707.25 million for the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%. Sell-side analysts expect 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.