Cogeco (TSE:CGO) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Cogeco Inc. (TSE:CGO) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$66.75 and traded as low as C$64.32. Cogeco shares last traded at C$64.76, with a volume of 12,710 shares trading hands.

Analyst Upgrades and Downgrades

CGO has been the subject of a number of analyst reports. TD upgraded shares of Cogeco from a “hold” rating to a “buy” rating and cut their price objective for the company from C$85.00 to C$81.00 in a research report on Monday, April 13th. TD Securities upgraded shares of Cogeco from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus target price of C$77.33.

Cogeco Trading Up 0.8%

The firm has a market capitalization of C$620.57 million, a P/E ratio of 7.51, a price-to-earnings-growth ratio of -0.28 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 0.50 and a debt-to-equity ratio of 531.92. The firm’s 50-day simple moving average is C$63.96 and its 200-day simple moving average is C$66.76.

Cogeco (TSE:CGO) last announced its earnings results on Thursday, April 9th. The company reported C$2.12 earnings per share (EPS) for the quarter. Cogeco had a net margin of 2.86% and a return on equity of 9.64%. The business had revenue of C$713.04 million during the quarter. Analysts anticipate that Cogeco Inc. will post 11.054717 EPS for the current year.

Cogeco Company Profile

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.