Cogeco Communications (TSE:CCA) Stock Price Breaks Below 200-Day Moving Average – Time to Sell?

Cogeco Communications Inc. (TSE:CCA)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$62.84 and traded as low as C$51.22. Cogeco Communications shares last traded at C$51.58, with a volume of 312,311 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on CCA. Royal Bank Of Canada dropped their price objective on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research note on Friday, July 10th. National Bank Financial decreased their target price on shares of Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating for the company in a research note on Monday, August 31st. Finally, Desjardins lowered their price target on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$72.67.

Cogeco Communications Stock Up 1.3%

The company has a market cap of C$2.21 billion, a price-to-earnings ratio of -1.99, a PEG ratio of 4.77 and a beta of 1.08. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79. The business has a fifty day moving average of C$58.38 and a two-hundred day moving average of C$62.68.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The company had revenue of C$696.68 million for the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. As a group, equities analysts anticipate that Cogeco Communications Inc. will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, August 12th were paid a $0.9870 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $3.95 dividend on an annualized basis and a yield of 7.5%. Cogeco Communications’s dividend payout ratio (DPR) is currently -14.69%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.