Cogeco Communications (TSE:CCA) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Cogeco Communications Inc. (TSE:CCA) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$67.12 and traded as high as C$67.98. Cogeco Communications shares last traded at C$66.46, with a volume of 144,878 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CCA. CIBC dropped their price objective on Cogeco Communications from C$73.00 to C$71.00 in a research note on Wednesday, January 15th. Scotiabank decreased their target price on Cogeco Communications from C$77.50 to C$75.50 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$76.17.

Cogeco Communications Stock Performance

The stock has a market capitalization of C$2.79 billion, a PE ratio of 8.05, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49. The business’s fifty day moving average price is C$64.67 and its 200-day moving average price is C$67.14.

Cogeco Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 10th were given a $0.922 dividend. This represents a $3.69 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Monday, January 27th. Cogeco Communications’s dividend payout ratio (DPR) is 41.40%.

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.