Cogeco Communications (OTCMKTS:CGEAF) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Cogeco Communications Inc. (OTCMKTS:CGEAF) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CGEAF shares. TD Securities reiterated a “buy” rating on shares of Cogeco Communications in a report on Friday, October 31st. National Bank Financial reaffirmed a “sector perform” rating on shares of Cogeco Communications in a research report on Friday, October 31st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Cogeco Communications in a report 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. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Cogeco Communications in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Cogeco Communications Price Performance

The company’s fifty day moving average is $49.72 and its two-hundred day moving average is $47.71.

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.