Cogeco (TSE:CGO) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Cogeco Inc. (TSE:CGO) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$66.21 and traded as low as C$61.86. Cogeco shares last traded at C$61.88, with a volume of 16,815 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CGO. TD Securities upgraded Cogeco from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. TD upgraded Cogeco from a “hold” rating to a “buy” rating and lowered their price target for the stock from C$85.00 to C$81.00 in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average target price of C$77.33.

Cogeco Stock Performance

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 business has a 50 day moving average price of C$67.05 and a 200 day moving average price of C$66.21. The stock has a market cap of C$586.00 million, a P/E ratio of 7.09, a PEG ratio of -0.28 and a beta of 0.87.

Cogeco (TSE:CGO) last posted its quarterly earnings data on Thursday, April 9th. The company reported C$2.12 earnings per share (EPS) for the quarter. Cogeco had a return on equity of 9.64% and a net margin of 2.86%.The company had revenue of C$713.04 million during the quarter. As a group, sell-side analysts expect 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.