Zacks Research Has Pessimistic View of CCOI FY2028 Earnings

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Research analysts at Zacks Research lowered their FY2028 EPS estimates for shares of Cogent Communications in a report released on Tuesday, June 23rd. Zacks Research analyst Team now expects that the technology company will post earnings of ($2.15) per share for the year, down from their prior forecast of ($1.82). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.25) per share.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Monday, May 4th. The technology company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.20. Cogent Communications had a negative net margin of 17.53% and a negative return on equity of 842.48%. The company had revenue of $239.19 million during the quarter, compared to the consensus estimate of $241.31 million. During the same quarter in the prior year, the company posted ($1.09) earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Wells Fargo & Company reduced their target price on Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating on shares of Cogent Communications in a research report on Monday. Royal Bank Of Canada cut their price objective on Cogent Communications from $22.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Cogent Communications from a “strong sell” rating to a “sell” rating in a research note on Sunday, April 26th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.90.

Cogent Communications Stock Performance

Shares of CCOI stock opened at $13.52 on Thursday. Cogent Communications has a 52-week low of $13.33 and a 52-week high of $54.37. The company has a 50-day simple moving average of $18.48 and a two-hundred day simple moving average of $20.71. The company has a market capitalization of $677.08 million, a price-to-earnings ratio of -3.81 and a beta of 0.77.

Cogent Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, May 18th. Cogent Communications’s dividend payout ratio (DPR) is presently -2.25%.

Insider Activity

In related news, CFO Thaddeus Gerard Weed sold 4,850 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total transaction of $81,431.50. Following the completion of the transaction, the chief financial officer owned 197,900 shares of the company’s stock, valued at approximately $3,322,741. The trade was a 2.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $17.01, for a total transaction of $40,824.00. Following the sale, the vice president directly owned 38,600 shares in the company, valued at $656,586. This trade represents a 5.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Cogent Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Turtle Creek Asset Management Inc. increased its stake in Cogent Communications by 64.9% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 4,603,933 shares of the technology company’s stock worth $176,561,000 after acquiring an additional 1,811,222 shares during the last quarter. Park West Asset Management LLC bought a new stake in shares of Cogent Communications during the 4th quarter valued at about $30,380,000. Bank of America Corp DE boosted its position in shares of Cogent Communications by 551.2% during the 3rd quarter. Bank of America Corp DE now owns 1,146,417 shares of the technology company’s stock valued at $43,965,000 after acquiring an additional 970,367 shares during the last quarter. MIG Capital LLC purchased a new position in shares of Cogent Communications during the fourth quarter worth about $12,272,000. Finally, First Trust Advisors LP grew its holdings in shares of Cogent Communications by 86.8% during the fourth quarter. First Trust Advisors LP now owns 1,177,398 shares of the technology company’s stock worth $25,385,000 after purchasing an additional 547,188 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Company Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.