Wall Street analysts predict that Cogent Communications Holdings Inc (NASDAQ:CCOI) will report earnings of $0.12 per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Cogent Communications’ earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.17. Cogent Communications posted earnings per share of $0.09 in the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that Cogent Communications will report full year earnings of $0.38 per share for the current year, with EPS estimates ranging from $0.34 to $0.41. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.69 per share, with EPS estimates ranging from $0.48 to $0.87. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The business had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $123.60 million. Cogent Communications had a negative return on equity of 23.86% and a net margin of 3.37%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS.
Several equities analysts have commented on the company. KeyCorp reissued a “hold” rating on shares of Cogent Communications in a research report on Wednesday, October 11th. BidaskClub lowered Cogent Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Macquarie lowered Cogent Communications from a “neutral” rating to an “underperform” rating in a research report on Friday, November 3rd. Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Monday, October 9th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $48.00 price objective on shares of Cogent Communications in a research report on Monday, September 18th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $43.77.
In other news, VP Henry W. Kilmer sold 3,000 shares of Cogent Communications stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $44.54, for a total value of $133,620.00. Following the completion of the transaction, the vice president now owns 33,600 shares of the company’s stock, valued at approximately $1,496,544. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thaddeus Gerard Weed sold 2,000 shares of Cogent Communications stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $45.81, for a total value of $91,620.00. Following the completion of the transaction, the chief financial officer now directly owns 67,650 shares of the company’s stock, valued at approximately $3,099,046.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,866 shares of company stock valued at $734,703. 9.48% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC increased its holdings in Cogent Communications by 63.4% in the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after buying an additional 1,024 shares in the last quarter. Sei Investments Co. increased its holdings in Cogent Communications by 29.7% in the 2nd quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after buying an additional 670 shares in the last quarter. Pacad Investment Ltd. bought a new stake in Cogent Communications in the 2nd quarter worth about $140,000. PNC Financial Services Group Inc. increased its holdings in Cogent Communications by 1,919.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after buying an additional 3,589 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in Cogent Communications by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock worth $167,000 after buying an additional 1,663 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.
Shares of Cogent Communications (NASDAQ CCOI) traded up $1.52 during trading on Monday, reaching $45.67. The company’s stock had a trading volume of 623,147 shares, compared to its average volume of 333,461. The company has a debt-to-equity ratio of -8.84, a current ratio of 4.22 and a quick ratio of 4.22. The stock has a market capitalization of $2,090.00, a price-to-earnings ratio of 124.17, a P/E/G ratio of 11.66 and a beta of 0.58. Cogent Communications has a fifty-two week low of $37.85 and a fifty-two week high of $54.85.
The business also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Friday, November 17th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, November 16th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.46. Cogent Communications’s payout ratio is currently 548.57%.
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Cogent Communications Company Profile
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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