Cogent Communications (CCOI) to Release Quarterly Earnings on Thursday

Cogent Communications (NASDAQ:CCOI) is set to announce its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.80) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.79. The business had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. On average, analysts expect Cogent Communications to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Cogent Communications Trading Down 0.9 %

CCOI opened at $63.07 on Wednesday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 2.36 and a beta of 0.39. Cogent Communications has a 52 week low of $57.35 and a 52 week high of $86.00. The business’s 50 day moving average is $65.75 and its two-hundred day moving average is $69.53. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.24.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th were given a dividend of $0.965 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.86 annualized dividend and a yield of 6.12%. Cogent Communications’s payout ratio is 14.43%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TheStreet upgraded Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $75.00 in a research report on Thursday, March 7th. TD Cowen boosted their target price on Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. KeyCorp boosted their price target on Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. cut their price target on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $77.57.

Insider Buying and Selling at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.62, for a total value of $147,110.40. Following the completion of the sale, the executive now owns 54,822 shares of the company’s stock, valued at $4,200,461.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $76.62, for a total transaction of $147,110.40. Following the sale, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dave Schaeffer sold 26,174 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $64.21, for a total value of $1,680,632.54. Following the sale, the chief executive officer now owns 4,653,203 shares in the company, valued at approximately $298,782,164.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,320 shares of company stock valued at $4,669,997. Company insiders own 11.00% of the company’s stock.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, 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.