Cogeco (TSE:CGO) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Cogeco Inc. (TSE:CGO)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$66.75 and traded as low as C$64.32. Cogeco shares last traded at C$64.76, with a volume of 12,710 shares.

Analyst Ratings Changes

Several brokerages have issued reports on CGO. TD Securities raised Cogeco from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. TD upgraded Cogeco from a “hold” rating to a “buy” rating and decreased their price objective for the company from C$85.00 to C$81.00 in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the company has an average rating of “Strong Buy” and an average target price of C$77.33.

Cogeco Price Performance

The firm has a market capitalization of C$613.28 million, a PE ratio of 7.42, a price-to-earnings-growth ratio of -0.28 and a beta of 0.77. The business has a 50-day moving average of C$64.10 and a 200 day moving average of C$66.75. The company has a current ratio of 0.50, a quick ratio of 0.51 and a debt-to-equity ratio of 531.92.

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