Cogeco Communications (TSE:CCA) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Cogeco Communications Inc. (TSE:CCA)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$63.86 and traded as high as C$66.67. Cogeco Communications shares last traded at C$66.14, with a volume of 14,899 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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 raised their price target on Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday, November 4th. TD Securities boosted their price objective on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Finally, BMO Capital Markets upped their price target on 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.06.

Cogeco Communications Stock Down 0.6 %

The firm has a market capitalization of C$1.98 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The business has a 50 day moving average of C$69.95 and a 200 day moving average of C$63.86. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were paid a $0.922 dividend. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.58%. Cogeco Communications’s dividend payout ratio is currently 43.62%.

Insider Transactions at Cogeco Communications

In other news, Director Jacques Royer sold 657 shares of the business’s stock in a transaction 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 sale, the director now 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 bought 2,156 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average price of C$69.66 per share, with a total value 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.