Cogeco Communications (TSE:CCA) Stock Price Crosses Above 200-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 trading hands.

Analyst Ratings Changes

CCA has been the subject of several research reports. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and increased their price objective for the company from C$65.00 to C$77.00 in a report on Monday, November 4th. National Bank Financial raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Scotiabank lifted their price objective on Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$64.00 to C$80.00 in a report on Friday, September 20th. Finally, Royal Bank of Canada raised their target price on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Four 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 stock. Based on data from MarketBeat, Cogeco Communications currently has a consensus rating of “Moderate Buy” and an average price target of C$77.06.

Cogeco Communications Trading Down 1.7 %

The stock has a fifty day moving average of C$69.24 and a 200-day moving average of C$65.27. The company has a market cap of C$2.03 billion, a PE ratio of 8.64, a PEG ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41.

Cogeco Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were issued a dividend of $0.922 per share. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a yield of 5.45%. Cogeco Communications’s dividend payout ratio (DPR) is presently 43.62%.

Insider Buying and Selling at Cogeco Communications

In other Cogeco Communications 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 transaction of C$45,241.02. Following the transaction, the director now owns 1 shares of the company’s stock, valued at approximately C$68.86. This trade represents a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock purchased 2,156 shares of the stock in a transaction dated Friday, November 29th. The stock was acquired at an average cost of C$69.66 per share, with a total value of C$150,189.33. 0.46% of the stock is owned by corporate 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.