Cogeco (TSE:CGO) Share Price Passes Above 50 Day Moving Average - What's Next?

Cogeco Inc. (TSE:CGO - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$55.58 and traded as high as C$59.47. Cogeco shares last traded at C$58.98, with a volume of 13,482 shares changing hands.

Analyst Upgrades and Downgrades

CGO has been the topic of several recent research reports. CIBC increased their price target on shares of Cogeco from C$58.00 to C$59.00 and gave the stock a "neutral" rating in a research report on Monday, July 15th. TD Securities lifted their target price on Cogeco from C$94.00 to C$99.00 and gave the company a "buy" rating in a research report on Monday, July 15th.

Cogeco Stock Down 0.3 %

The company has a market capitalization of C$465.11 million, a PE ratio of 7.01, a price-to-earnings-growth ratio of -0.28 and a beta of 0.34. The company's fifty day moving average is C$55.67 and its 200-day moving average is C$53.22. The company has a debt-to-equity ratio of 151.56, a quick ratio of 0.51 and a current ratio of 0.44.

Cogeco (TSE:CGO - Get Free Report) last announced its quarterly earnings data on Thursday, July 11th. The company reported C$3.02 earnings per share (EPS) for the quarter. The firm had revenue of C$777.25 million during the quarter. Cogeco had a net margin of 3.47% and a return on equity of 10.59%. As a group, analysts predict that Cogeco Inc. will post 11.054717 EPS for the current fiscal year.

Cogeco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th were issued a dividend of $0.854 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.42 dividend on an annualized basis and a yield of 5.81%. Cogeco's dividend payout ratio is presently 40.76%.

Cogeco Company Profile

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.