Cogeco (TSE:CGO) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Cogeco Inc. (TSE:CGO) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$66.59 and traded as low as C$63.71. Cogeco shares last traded at C$64.28, with a volume of 44,260 shares.

Analysts Set New Price Targets

CGO has been the topic of several analyst reports. TD Securities raised shares of Cogeco from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. TD raised shares of Cogeco from a “hold” rating to a “buy” rating and cut their price target for the stock from C$85.00 to C$81.00 in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of C$77.33.

Cogeco Trading Up 0.7%

The company has a debt-to-equity ratio of 531.92, a quick ratio of 0.51 and a current ratio of 0.50. The stock’s 50-day simple moving average is C$64.85 and its 200-day simple moving average is C$66.64. The firm has a market capitalization of C$612.99 million, a PE ratio of 7.41, a P/E/G ratio of -0.28 and a beta of 0.87.

Cogeco (TSE:CGO) last issued its quarterly earnings data on Thursday, April 9th. The company reported C$2.12 earnings per share (EPS) for the quarter. The business had revenue of C$713.04 million for the quarter. Cogeco had a net margin of 2.86% and a return on equity of 9.64%. As a group, sell-side analysts expect that Cogeco Inc. will post 11.054717 EPS for the current fiscal 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.