Cogeco Communications (TSE:CCA) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$67.15 and traded as low as C$63.77. Cogeco Communications shares last traded at C$63.87, with a volume of 89,459 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on CCA. TD upgraded Cogeco Communications from a “hold” rating to a “buy” rating and cut their target price for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. Scotiabank reduced their target price on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. Canaccord Genuity Group decreased their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada raised their price target on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a “sector perform” rating in a report on Thursday, April 9th. Finally, TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cogeco Communications presently has an average rating of “Moderate Buy” and an average target price of C$75.11.

Cogeco Communications Trading Up 0.6%

The company has a 50 day moving average of C$64.29 and a two-hundred day moving average of C$67.15. The stock has a market capitalization of C$2.68 billion, a PE ratio of 8.58, a P/E/G ratio of 4.77 and a beta of 0.93. The company has a debt-to-equity ratio of 141.57, a quick ratio of 0.49 and a current ratio of 0.47.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Thursday, April 9th. The company reported C$1.96 EPS for the quarter. The company had revenue of C$693.56 million during the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%. Sell-side analysts predict 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. Investors of record on Thursday, May 7th were paid a $0.987 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a yield of 6.2%. Cogeco Communications’s dividend payout ratio (DPR) is 51.32%.

Cogeco Communications Company Profile

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.