Wall Street brokerages forecast that Cogent Communications Holdings Inc (NASDAQ:CCOI) will report earnings of $0.17 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Cogent Communications’ earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.21. Cogent Communications reported earnings per share of $0.10 during the same quarter last year, which would suggest a positive year-over-year growth rate of 70%. The company is expected to issue its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Cogent Communications will report full-year earnings of $0.73 per share for the current fiscal year, with EPS estimates ranging from $0.66 to $0.87. For the next year, analysts anticipate that the firm will report earnings of $1.07 per share, with EPS estimates ranging from $0.93 to $1.21. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, May 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Cogent Communications had a negative return on equity of 22.60% and a net margin of 1.72%. The company had revenue of $128.70 million during the quarter, compared to the consensus estimate of $127.88 million. During the same period last year, the company earned $0.09 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year.
A number of equities analysts have recently issued reports on CCOI shares. TheStreet upgraded Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, May 17th. Deutsche Bank lowered their price objective on Cogent Communications from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Zacks Investment Research upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, April 25th. BidaskClub upgraded Cogent Communications from a “hold” rating to a “buy” rating in a research report on Thursday, April 19th. Finally, William Blair restated a “buy” rating on shares of Cogent Communications in a research report on Wednesday, April 4th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.82.
Shares of Cogent Communications traded up $0.45, reaching $53.85, during mid-day trading on Friday, according to MarketBeat.com. 458,250 shares of the company were exchanged, compared to its average volume of 232,515. Cogent Communications has a 52 week low of $35.75 and a 52 week high of $54.85. The company has a debt-to-equity ratio of -7.33, a current ratio of 4.13 and a quick ratio of 4.13. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 141.71, a price-to-earnings-growth ratio of 7.41 and a beta of 0.51.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Thursday, May 17th were issued a $0.52 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Wednesday, May 16th. Cogent Communications’s payout ratio is presently 547.37%.
In other Cogent Communications news, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $45.75, for a total value of $45,750.00. Following the completion of the sale, the vice president now directly owns 44,652 shares in the company, valued at $2,042,829. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Raymond B. Kummer sold 3,000 shares of Cogent Communications stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $52.67, for a total value of $158,010.00. Following the completion of the sale, the vice president now owns 37,200 shares of the company’s stock, valued at $1,959,324. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,500 shares of company stock valued at $1,226,780. 9.48% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Cogent Communications in the first quarter worth approximately $152,000. Ramsey Quantitative Systems bought a new stake in Cogent Communications in the fourth quarter worth approximately $204,000. Quantbot Technologies LP bought a new stake in Cogent Communications in the first quarter worth approximately $216,000. Dorsey & Whitney Trust CO LLC bought a new stake in Cogent Communications in the first quarter worth approximately $232,000. Finally, Sei Investments Co. increased its holdings in shares of Cogent Communications by 29.7% during the first quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock valued at $232,000 after acquiring an additional 1,223 shares in the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.
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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