Equities analysts expect Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) to announce $0.22 earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Cogent Communications’ earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.25. Cogent Communications reported earnings of ($0.05) per share during the same quarter last year, which would indicate a positive year over year growth rate of 540%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Cogent Communications will report full year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.70 to $1.03. For the next year, analysts expect that the company will report earnings of $1.27 per share, with EPS estimates ranging from $1.17 to $1.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that provide coverage for Cogent Communications.
Cogent Communications (NASDAQ:CCOI – Get Rating) last posted its earnings results on Friday, April 29th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.18). The business had revenue of $149.20 million for the quarter, compared to analyst estimates of $149.10 million. Cogent Communications had a net margin of 5.15% and a negative return on equity of 6.39%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share.
CCOI has been the subject of a number of recent analyst reports. Credit Suisse Group cut their price objectively on shares of Cogent Communications from $89.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, January 24th. TheStreet cut shares of Cogent Communications from a “b-” rating to a “c” rating in a research note on Friday, April 29th. JPMorgan Chase & Co. raised shares of Cogent Communications from a “neutral” rating to an “overweight” rating and set a $82.00 target price for the company in a research note on Thursday, February 10th. StockNews.com assumed coverage on shares of Cogent Communications in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Citigroup cut their target price on shares of Cogent Communications from $73.00 to $70.00 in a research note on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Cogent Communications currently has an average rating of “Hold” and an average price target of $74.14.
CCOI traded up $0.40 on Friday, reaching $58.74. The stock had a trading volume of 1,906 shares, compared to its average volume of 330,870. Cogent Communications has a 12-month low of $56.53 and a 12-month high of $80.50. The business’s 50-day moving average price is $63.75 and its two-hundred day moving average price is $67.80. The company has a market cap of $2.82 billion, a P/E ratio of 91.16 and a beta of 0.31.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 5.99%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.86. The ex-divided date is Thursday, May 12th. Cogent Communications’s payout ratio is presently 550.01%.
In other Cogent Communications news, VP John B. Chang sold 600 shares of the business’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $62.96, for a total value of $37,776.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $62.94, for a total transaction of $120,844.80. The disclosure for this sale can be found here. Insiders sold a total of 3,170 shares of company stock worth $201,846 over the last quarter. 11.00% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of CCOI. Morgan Stanley lifted its holdings in Cogent Communications by 46.3% during the 2nd quarter. Morgan Stanley now owns 171,957 shares of the technology company’s stock worth $13,223,000 after buying an additional 54,446 shares in the last quarter. Raymond James & Associates lifted its holdings in Cogent Communications by 5.5% during the 3rd quarter. Raymond James & Associates now owns 24,064 shares of the technology company’s stock worth $1,705,000 after buying an additional 1,264 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Cogent Communications during the 3rd quarter worth approximately $368,000. Swiss National Bank lifted its holdings in Cogent Communications by 0.9% during the 3rd quarter. Swiss National Bank now owns 94,500 shares of the technology company’s stock worth $6,694,000 after buying an additional 800 shares in the last quarter. Finally, the State Board of Administration of Florida Retirement System lifted its holdings in Cogent Communications by 4.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,337 shares of the technology company’s stock worth $1,086,000 after buying an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.
Cogent Communications Company Profile (Get Rating)
Cogent Communications Holdings, Inc., through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.
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