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

Shares of Cogeco Communications Inc. (TSE:CCA) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCA. Scotiabank dropped their price target on Cogeco Communications from C$77.50 to C$75.50 in a research note on Wednesday, January 15th. CIBC dropped their price target on Cogeco Communications from C$73.00 to C$71.00 in a research note on Wednesday, January 15th. Three 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 data from MarketBeat, Cogeco Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of C$76.17.

Cogeco Communications Price Performance

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 firm has a market cap of C$2.79 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The firm has a 50-day simple moving average of C$64.67 and a 200 day simple moving average of C$67.14.

Cogeco Communications Announces Dividend

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