Wall Street analysts predict that Cogent Communications Holdings, Inc. (NASDAQ:CCOI) will report $0.15 earnings per share for the current quarter, Zacks reports. Eight analysts have provided estimates for Cogent Communications’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.12. Cogent Communications reported earnings per share of $0.09 in the same quarter last year, which would suggest a positive year over year growth rate of 66.7%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, May 3rd.
On average, analysts expect that Cogent Communications will report full year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.67 to $0.80. For the next financial year, analysts forecast that the business will report earnings of $1.11 per share, with EPS estimates ranging from $0.93 to $1.26. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $125.20 million for the quarter, compared to analyst estimates of $126.27 million. Cogent Communications had a negative return on equity of 21.64% and a net margin of 1.21%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share.
Several equities analysts have weighed in on the company. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a research report on Thursday. William Blair reaffirmed a “buy” rating on shares of Cogent Communications in a research report on Wednesday, April 4th. ValuEngine raised Cogent Communications from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Guggenheim assumed coverage on Cogent Communications in a research report on Tuesday, March 13th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Thursday, January 25th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $44.20.
In other news, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $45.75, for a total transaction of $45,750.00. Following the completion of the transaction, the vice president now directly owns 44,652 shares of the company’s stock, valued at $2,042,829. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thaddeus Gerard Weed sold 6,000 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $45.17, for a total value of $271,020.00. Following the transaction, the chief financial officer now directly owns 81,050 shares of the company’s stock, valued at $3,661,028.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,000 shares of company stock valued at $663,383. Corporate insiders own 9.48% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new position in shares of Cogent Communications during the fourth quarter worth about $204,000. Envestnet Asset Management Inc. grew its position in shares of Cogent Communications by 225.7% during the third quarter. Envestnet Asset Management Inc. now owns 4,762 shares of the technology company’s stock worth $232,000 after buying an additional 3,300 shares in the last quarter. Crestwood Capital Management L.P. acquired a new position in shares of Cogent Communications during the fourth quarter worth about $263,000. Public Employees Retirement System of Ohio grew its position in shares of Cogent Communications by 1,378.7% during the third quarter. Public Employees Retirement System of Ohio now owns 6,048 shares of the technology company’s stock worth $296,000 after buying an additional 5,639 shares in the last quarter. Finally, HBK Investments L P acquired a new position in shares of Cogent Communications during the fourth quarter worth about $276,000. 94.92% of the stock is owned by institutional investors and hedge funds.
NASDAQ CCOI opened at $47.30 on Thursday. The stock has a market capitalization of $2,191.31, a price-to-earnings ratio of 124.47, a PEG ratio of 6.34 and a beta of 0.50. The company has a debt-to-equity ratio of -6.93, a current ratio of 4.11 and a quick ratio of 4.11. Cogent Communications has a 1-year low of $35.75 and a 1-year high of $54.85.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Friday, March 9th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 8th. This is an increase from Cogent Communications’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.23%. Cogent Communications’s payout ratio is currently 526.32%.
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Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
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