Cogeco (TSE:CGO) Shares Cross Below 200 Day Moving Average of $75.19

Cogeco Inc. (TSE:CGOGet Rating) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$75.19 and traded as low as C$68.50. Cogeco shares last traded at C$69.00, with a volume of 11,917 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. CIBC decreased their price objective on Cogeco from C$106.00 to C$84.00 and set an “outperform” rating for the company in a report on Wednesday, June 29th. TD Securities decreased their price objective on Cogeco from C$135.00 to C$120.00 and set a “buy” rating for the company in a report on Monday, May 2nd.

Cogeco Stock Performance

The company has a market cap of C$1.09 billion and a PE ratio of 7.55. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 146.86. The company has a 50-day moving average of C$70.21 and a 200-day moving average of C$75.19.

Cogeco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Wednesday, July 27th will be given a dividend of $0.625 per share. This is a boost from Cogeco’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, July 26th. This represents a $2.50 annualized dividend and a dividend yield of 3.62%. Cogeco’s payout ratio is presently 26.48%.

About Cogeco

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Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Communications and Other. The Communications segment provides a range of Internet, video, and telephony services through its two-way broadband fiber networks primarily to residential customers, as well as to small and medium sized businesses under the Cogeco Connexion name in Quebec and Ontario; and Atlantic Broadband brand in the United States.

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