Cogeco Communications (TSE:CCA) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Cogeco Communications Inc. (TSE:CCA – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$66.17 and traded as high as C$68.60. Cogeco Communications shares last traded at C$68.18, with a volume of 122,289 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on CCA shares. National Bankshares cut shares of Cogeco Communications from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from C$80.00 to C$69.00 in a research report on Tuesday, August 12th. Scotiabank lowered their price objective on Cogeco Communications from C$75.50 to C$74.00 in a research note on Friday, October 31st. CIBC dropped their target price on Cogeco Communications from C$71.00 to C$68.00 in a report on Friday, October 17th. National Bank Financial downgraded Cogeco Communications from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, BMO Capital Markets lowered their price target on Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$87.25.

Read Our Latest Report on CCA

Cogeco Communications Trading Up 0.4%

The stock has a market cap of C$2.84 billion, a PE ratio of 8.88, a PEG ratio of 4.77 and a beta of 0.58. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. The firm has a fifty day simple moving average of C$65.24 and a two-hundred day simple moving average of C$66.19.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 26th were given a $0.987 dividend. This represents a $3.95 annualized dividend and a yield of 5.8%. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, November 12th. Cogeco Communications’s dividend payout ratio (DPR) is presently 48.53%.

About Cogeco Communications

(Get Free Report)

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.

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