Cogeco Communications (OTCMKTS:CGEAF) Shares Cross Above 50-Day Moving Average – Here’s Why

Cogeco Communications Inc. (OTCMKTS:CGEAF) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $49.17 and traded as high as $51.2820. Cogeco Communications shares last traded at $51.27, with a volume of 1,112 shares traded.

Wall Street Analysts Forecast Growth

CGEAF has been the topic of a number of analyst reports. Scotiabank restated a “sector perform” rating on shares of Cogeco Communications in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Cogeco Communications in a research note on Friday, January 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Cogeco Communications in a research note on Friday, January 16th. TD Securities reissued a “buy” rating on shares of Cogeco Communications in a report on Friday, October 31st. Finally, National Bank Financial reaffirmed a “sector perform” rating on shares of Cogeco Communications in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Cogeco Communications Trading Up 2.8%

The company’s fifty day simple moving average is $49.17 and its two-hundred day simple moving average is $47.39.

About Cogeco Communications

Cogeco Communications Inc is a Canadian telecommunications company that provides broadband internet, cable television and telephony services to both residential and business customers. The company’s operations are structured around two primary networks: its Canadian footprint serving markets across Ontario and Quebec, and Atlantic Broadband, its U.S. cable subsidiary operating in several states along the East Coast. Leveraging a combination of fiber-optic and hybrid fiber-coaxial infrastructure, Cogeco Communications delivers high-speed internet access, digital video, voice-over-IP and managed network solutions.

Founded in 1957 and headquartered in Montreal, Quebec, Cogeco Communications has expanded through organic growth and strategic acquisitions.