Cogeco Communications (TSE:CCA) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$67.26 and traded as low as C$63.63. Cogeco Communications shares last traded at C$64.37, with a volume of 109,686 shares trading hands.

Analyst Ratings Changes

CCA has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a “sector perform” rating in a research report on Thursday, April 9th. TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Desjardins reduced their price target on shares of Cogeco Communications from C$71.00 to C$68.00 and set a “hold” rating for the company in a research note on Monday, April 13th. Canaccord Genuity Group decreased their price objective on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Scotiabank lowered their price objective on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$75.11.

Cogeco Communications Price Performance

The firm has a market capitalization of C$2.66 billion, a P/E ratio of 8.52, a P/E/G ratio of 4.77 and a beta of 0.93. The business’s fifty day moving average is C$64.21 and its 200 day moving average is C$67.22. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 141.57.

Cogeco Communications (TSE:CCA) last issued its earnings results on Thursday, April 9th. The company reported C$1.96 earnings per share for the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%. The firm had revenue of C$693.56 million during the quarter. As a group, analysts forecast that Cogeco Communications Inc. will post 8.4900498 EPS for the current year.

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Thursday, May 7th were given a dividend of $0.987 per share. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a dividend yield of 6.2%. Cogeco Communications’s payout ratio is 51.32%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.