Cogeco Communications (TSE:CCA) Shares Cross Above 200-Day Moving Average of $103.61

Cogeco Communications Inc (TSE:CCA) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $103.61 and traded as high as $115.53. Cogeco Communications shares last traded at $115.38, with a volume of 88,962 shares changing hands.

A number of research firms have issued reports on CCA. Echelon Wealth Partners lowered Cogeco Communications from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. TD Securities downgraded Cogeco Communications from a “buy” rating to a “hold” rating and set a C$110.00 price objective for the company. in a research report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on Cogeco Communications from C$108.00 to C$111.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. BMO Capital Markets raised their price objective on Cogeco Communications from C$100.00 to C$105.00 in a research report on Monday, September 9th. Finally, National Bank Financial raised their price objective on Cogeco Communications from C$121.00 to C$124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Cogeco Communications presently has an average rating of “Hold” and a consensus target price of C$105.00.

The stock has a 50-day simple moving average of C$112.45 and a 200 day simple moving average of C$103.61. The company has a debt-to-equity ratio of 133.03, a quick ratio of 1.69 and a current ratio of 1.75. The company has a market cap of $5.67 billion and a P/E ratio of 13.77.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 27th were given a $0.58 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.53. Cogeco Communications’s dividend payout ratio (DPR) is currently 25.16%.

In related news, Senior Officer Christian Jolivet sold 3,015 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$119.00, for a total transaction of C$358,785.00. Following the completion of the transaction, the insider now owns 2,342 shares in the company, valued at approximately C$278,698. Also, Senior Officer Andrée Pinard sold 300 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of C$116.93, for a total value of C$35,079.00. Following the transaction, the insider now owns 1,904 shares of the company’s stock, valued at approximately C$222,634.72. Insiders sold a total of 3,475 shares of company stock valued at $412,114 in the last quarter.

Cogeco Communications Company Profile (TSE:CCA)

Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.

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