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

Cogeco Communications Inc. (OTCMKTS:CGEAF)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $49.17 and traded as high as $51.2820. Cogeco Communications shares last traded at $51.27, with a volume of 1,112 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Cogeco Communications in a research note on Friday, January 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Cogeco Communications in a report on Friday, January 16th. Scotiabank reissued a “sector perform” rating on shares of Cogeco Communications in a research note on Monday, January 12th. TD Securities restated a “buy” rating on shares of Cogeco Communications in a research report on Friday, October 31st. Finally, National Bank Financial reaffirmed a “sector perform” rating on shares of Cogeco Communications in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Cogeco Communications Trading Up 2.8%

The company’s fifty day moving average price is $49.17 and its two-hundred day moving average price is $47.39.

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.