Cogeco Communications (TSE:CCA) Stock Passes Above Two Hundred 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 changing hands.

Analyst Ratings Changes

Several brokerages recently commented on CCA. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$64.00 to C$80.00 in a research report on Friday, September 20th. BMO Capital Markets increased their target price on Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$65.00 to C$77.00 in a 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 report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$77.06.

Cogeco Communications Price Performance

The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The business has a fifty day moving average of C$69.84 and a 200 day moving average of C$64.03. The stock has a market cap of C$1.98 billion, a PE ratio of 8.44, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

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

Insider Buying and Selling at Cogeco Communications

In other news, Director Robin Anne Bienenstock bought 2,156 shares of Cogeco Communications stock in a transaction on Friday, November 29th. The shares were bought at an average price of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 1 shares of the company’s stock, valued at C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. 0.46% of the stock is currently 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.