Cogeco Communications (TSE:CCA) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Cogeco Communications Inc. (TSE:CCA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$65.06 and traded as high as C$69.13. Cogeco Communications shares last traded at C$68.89, with a volume of 41,429 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on CCA. Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Scotiabank upped their price target on shares of Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday, November 4th. BMO Capital Markets raised their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Finally, National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Four 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.com, Cogeco Communications has a consensus rating of “Moderate Buy” and an average price target of C$77.06.

Cogeco Communications Trading Down 1.7 %

The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The company’s fifty day moving average price is C$69.24 and its two-hundred day moving average price is C$65.27. The firm has a market cap of C$2.03 billion, a PE ratio of 8.64, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were issued a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a yield of 5.45%. 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 currently 43.62%.

Insider Transactions at Cogeco Communications

In related news, Director Jacques Royer sold 657 shares of the firm’s stock in a transaction dated 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 in the company, valued at C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock acquired 2,156 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. Company insiders own 0.46% of the company’s stock.

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.