Cogeco Communications (TSE:CCA) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$61.54 and traded as high as C$69.57. Cogeco Communications shares last traded at C$69.23, with a volume of 20,827 shares trading hands.

Analysts Set New Price Targets

CCA has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. National Bank Financial raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. TD Securities boosted their price target on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their target price on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$75.50.

Cogeco Communications Trading Up 0.5 %

The firm has a market cap of C$2.08 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. The business has a fifty day moving average of C$69.22 and a two-hundred day moving average of C$61.54.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 28th will be paid a $0.922 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a yield of 5.33%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend payout ratio is presently 43.62%.

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.