Cogeco Communications (TSE:CCA) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$61.54 and traded as high as C$69.57. Cogeco Communications shares last traded at C$69.23, with a volume of 20,827 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CCA shares. National Bank Financial raised Cogeco Communications from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 19th. National Bankshares raised shares of Cogeco Communications from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Royal Bank of Canada boosted their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Finally, Canaccord Genuity Group raised shares of Cogeco Communications from a "hold" rating to a "buy" rating and boosted their price objective for the company from C$65.00 to C$77.00 in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cogeco Communications currently has a consensus rating of "Moderate Buy" and an average price target of C$75.50.

Cogeco Communications Stock Performance

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 firm's 50-day moving average is C$69.31 and its two-hundred day moving average is C$61.62. The stock has a market cap of C$2.07 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 28th will be given a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a dividend yield of ∞. The ex-dividend date is Thursday, November 14th. This is an increase from Cogeco Communications's previous quarterly dividend of $0.85. Cogeco Communications's dividend payout ratio is 43.62%.

Insider Buying and Selling

In other news, Director Jacques Royer sold 657 shares of the 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 sale, the director now owns 1 shares of the company's stock, valued at C$68.86. This represents a 99.85 % decrease in their position. 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.