Equities analysts forecast that Cogent Communications Holdings Inc (NASDAQ:CCOI) will post earnings of $0.21 per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Cogent Communications’ earnings. The highest EPS estimate is $0.25 and the lowest is $0.16. Cogent Communications reported earnings of $0.16 per share during the same quarter last year, which would suggest a positive year over year growth rate of 31.3%. The firm is expected to issue its next earnings report on Thursday, February 20th.
On average, analysts expect that Cogent Communications will report full-year earnings of $0.87 per share for the current financial year, with EPS estimates ranging from $0.82 to $0.90. For the next fiscal year, analysts forecast that the business will report earnings of $0.96 per share, with EPS estimates ranging from $0.56 to $1.16. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.12. The company had revenue of $136.94 million for the quarter, compared to analyst estimates of $136.50 million. Cogent Communications had a net margin of 6.91% and a negative return on equity of 21.84%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share.
Several equities research analysts recently weighed in on CCOI shares. Zacks Investment Research downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. BidaskClub raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. ValuEngine lowered Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on Cogent Communications from $54.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 13th. Finally, TheStreet upgraded Cogent Communications from a “c+” rating to a “b-” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $64.40.
Shares of NASDAQ CCOI traded down $0.03 during midday trading on Tuesday, hitting $61.80. The company’s stock had a trading volume of 157,843 shares, compared to its average volume of 258,806. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 98.10, a price-to-earnings-growth ratio of 9.05 and a beta of 0.57. The business’s fifty day simple moving average is $60.08 and its two-hundred day simple moving average is $59.30. Cogent Communications has a 1 year low of $42.40 and a 1 year high of $64.91.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 22nd will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.14%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, November 21st. Cogent Communications’s dividend payout ratio is presently 406.35%.
In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 67,550 shares of the company’s stock, valued at approximately $4,053,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mike Slessor sold 14,835 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $18.03, for a total transaction of $267,475.05. In the last ninety days, insiders sold 28,580 shares of company stock worth $1,103,678. 10.17% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Usca Ria LLC purchased a new stake in Cogent Communications during the 3rd quarter worth about $27,000. Point72 Asset Management L.P. purchased a new position in shares of Cogent Communications in the 2nd quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new position in shares of Cogent Communications in the 3rd quarter valued at about $39,000. Arbor Wealth Management LLC purchased a new stake in Cogent Communications during the second quarter worth approximately $59,000. Finally, Tower Research Capital LLC TRC lifted its stake in Cogent Communications by 4,287.9% during the third quarter. Tower Research Capital LLC TRC now owns 1,448 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,415 shares during the last quarter. 85.18% of the stock is currently owned by hedge funds and other institutional investors.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
See Also: Cost of Capital Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cogent Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications and related companies with MarketBeat.com's FREE daily email newsletter.