Cogeco (TSE:CGO) Shares Pass Below 200 Day Moving Average – Here’s Why

Cogeco Inc. (TSE:CGO) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$66.78 and traded as low as C$61.92. Cogeco shares last traded at C$61.92, with a volume of 35,545 shares changing hands.

Analyst Ratings Changes

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

Cogeco Stock Up 2.6%

The firm has a market capitalization of C$601.35 million, a price-to-earnings ratio of 7.27, a P/E/G ratio of -0.28 and a beta of 0.77. The business’s 50-day moving average is C$63.57 and its two-hundred day moving average is C$66.75. The company has a debt-to-equity ratio of 531.92, a quick ratio of 0.51 and a current ratio of 0.50.

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. Cogeco had a net margin of 2.86% and a return on equity of 9.64%. The firm had revenue of C$713.03 million during the quarter. On average, equities analysts anticipate that Cogeco Inc. will post 11.054717 earnings per share 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.