Cogeco Communications (TSE:CCA) Stock Passes Above Two Hundred Day Moving Average of $57.67

Shares of Cogeco Communications Inc. (TSE:CCA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$57.67 and traded as high as C$64.58. Cogeco Communications shares last traded at C$63.68, with a volume of 50,635 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CCA. Scotiabank dropped their target price on Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a report on Monday, April 15th. Bank of America upgraded shares of Cogeco Communications from an “underperform” rating to a “buy” rating and upped their price objective for the stock from C$60.00 to C$65.00 in a research report on Wednesday, July 17th. Royal Bank of Canada raised their target price on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the stock a “sector perform” rating in a research note on Monday, July 15th. Desjardins boosted their price target on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, TD Securities raised their price objective on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$68.83.

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 company’s 50 day moving average is C$56.01 and its 200 day moving average is C$57.72. The stock has a market cap of C$1.95 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 4.77 and a beta of 0.57.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Thursday, July 11th. The company reported C$2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.72. The company had revenue of C$750.58 million during the quarter, compared to the consensus estimate of C$751.50 million. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. Research analysts forecast that Cogeco Communications Inc. will post 8.4129032 earnings per share for the current fiscal year.

Cogeco Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th were given a dividend of $0.854 per share. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.42 dividend on an annualized basis and a yield of 5.26%. Cogeco Communications’s payout ratio is 43.62%.

About Cogeco Communications

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.