Cogeco (TSE:CGO) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Cogeco Inc. (TSE:CGO) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$69.72 and traded as high as C$72.80. Cogeco shares last traded at C$72.70, with a volume of 6,286 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on CGO shares. Canadian Imperial Bank of Commerce increased their target price on Cogeco from C$61.00 to C$66.00 in a research note on Friday, January 16th. TD Securities increased their price objective on Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$93.00.

Cogeco Trading Down 0.4%

The firm has a market cap of C$676.11 million, a P/E ratio of 8.27, a PEG ratio of -0.28 and a beta of 0.82. The company’s 50 day moving average is C$70.02 and its two-hundred day moving average is C$64.47. The company has a debt-to-equity ratio of 540.51, a current ratio of 0.44 and a quick ratio of 0.51.

Cogeco (TSE:CGO) last issued its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share (EPS) for the quarter. Cogeco had a return on equity of 9.61% and a net margin of 2.80%.The firm had revenue of C$735.64 million for the quarter. On average, sell-side analysts predict that Cogeco Inc. will post 11.054717 earnings per share for the current year.

About Cogeco

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.