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

Cogeco Communications Inc. (TSE:CCA)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$63.86 and traded as high as C$66.67. Cogeco Communications shares last traded at C$66.14, with a volume of 14,899 shares.

Wall Street Analyst Weigh In

CCA has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. BMO Capital Markets lifted their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Finally, TD Securities upped their price target on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$77.06.

Cogeco Communications Trading Down 0.6 %

The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The business’s 50-day simple moving average is C$69.84 and its 200-day simple moving average is C$64.03. The company has a market cap of C$1.98 billion, a PE ratio of 8.44, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were issued a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a dividend yield of 5.58%. 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. Cogeco Communications’s payout ratio is currently 43.62%.

Insider Activity at Cogeco Communications

In related news, Director Robin Anne Bienenstock purchased 2,156 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was bought at an average price of C$69.66 per share, for a total transaction of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1 shares in the company, valued at C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. 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.