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

Cogeco Communications Inc. (TSE:CCA) passed 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 changing hands.

Analyst Upgrades and Downgrades

CCA has been the subject of several research reports. TD Securities lifted their price target on shares of Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Royal Bank of Canada lifted their price target on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Scotiabank lifted their price target on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. Finally, BMO Capital Markets lifted their price target on shares of Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. 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 stock. Based on data from MarketBeat.com, Cogeco Communications has an average rating of “Moderate Buy” and a consensus target price of C$77.06.

Cogeco Communications Stock Performance

The stock has a market capitalization of C$2.07 billion, a P/E ratio of 8.79, a P/E/G ratio of 4.77 and a beta of 0.59. The company’s 50-day moving average is C$69.30 and its two-hundred day moving average is C$65.06. 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 declared a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were given a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.35%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. Cogeco Communications’s payout ratio is 43.62%.

Insiders Place Their Bets

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the sale, the director now directly owns 1 shares in the company, valued at approximately C$68.86. The trade was a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock purchased 2,156 shares of the company’s stock in a transaction on Friday, November 29th. The shares were bought at an average price of C$69.66 per share, for a total transaction of C$150,189.33. 0.46% of the stock is owned by insiders.

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.