Cogeco Communications (OTCMKTS:CGEAF) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Cogeco Communications Inc. (OTCMKTS:CGEAF) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $49.62 and traded as high as $53.6080. Cogeco Communications shares last traded at $53.05, with a volume of 5,126 shares trading hands.

Wall Street Analyst Weigh In

CGEAF has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Cogeco Communications in a research note on Friday, January 16th. BMO Capital Markets reissued a “market perform” rating on shares of Cogeco Communications in a research note on Friday, January 16th. Scotiabank reaffirmed a “sector perform” rating on shares of Cogeco Communications in a research note on Monday, January 12th. National Bank Financial reiterated a “sector perform” rating on shares of Cogeco Communications in a report on Friday, October 31st. Finally, TD Securities reissued a “buy” rating on shares of Cogeco Communications in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Cogeco Communications Stock Down 1.3%

The firm has a 50 day moving average of $49.62 and a 200-day moving average of $47.65.

About Cogeco Communications

Cogeco Communications Inc is a Canadian telecommunications company that provides broadband internet, cable television and telephony services to both residential and business customers. The company’s operations are structured around two primary networks: its Canadian footprint serving markets across Ontario and Quebec, and Atlantic Broadband, its U.S. cable subsidiary operating in several states along the East Coast. Leveraging a combination of fiber-optic and hybrid fiber-coaxial infrastructure, Cogeco Communications delivers high-speed internet access, digital video, voice-over-IP and managed network solutions.

Founded in 1957 and headquartered in Montreal, Quebec, Cogeco Communications has expanded through organic growth and strategic acquisitions.