Cogeco Communications (TSE:CCA) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Cogeco Communications Inc. (TSE:CCA)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$64.50 and traded as high as C$67.90. Cogeco Communications shares last traded at C$67.35, with a volume of 33,654 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Scotiabank raised their price objective on shares of Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$64.00 to C$80.00 in a research report on Friday, September 20th. BMO Capital Markets boosted their price target on Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. Finally, National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$77.06.

Cogeco Communications Price Performance

The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The firm has a market cap of C$2.02 billion, a P/E ratio of 8.59, a PEG ratio of 4.77 and a beta of 0.59. The company’s 50-day moving average is C$69.43 and its two-hundred day moving average is C$64.50.

Cogeco Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were paid a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a yield of 5.48%. This is a boost 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%.

Insiders Place Their Bets

In related news, Director Jacques Royer sold 657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 C$68.86. This represents a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock bought 2,156 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. Corporate insiders own 0.46% of the company’s stock.

Cogeco Communications Company Profile

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.