What is Zacks Research’s Forecast for CCOI FY2028 Earnings?

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Equities research analysts at Zacks Research dropped their FY2028 earnings per share estimates for Cogent Communications in a research note issued on Monday, July 20th. Zacks Research analyst Team now forecasts that the technology company will post earnings per share of ($2.26) for the year, down from their previous forecast of ($2.15). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.25) per share.

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

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their target price on shares of Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Citigroup lowered their price target on shares of Cogent Communications from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $22.00 price objective on shares of Cogent Communications in a research note on Friday, May 29th. TD Cowen reiterated a “buy” rating on shares of Cogent Communications in a report on Monday, June 22nd. Finally, UBS Group decreased their target price on shares of Cogent Communications from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cogent Communications has an average rating of “Hold” and a consensus target price of $24.90.

Cogent Communications Stock Performance

Shares of CCOI stock opened at $12.70 on Wednesday. Cogent Communications has a fifty-two week low of $10.93 and a fifty-two week high of $50.37. The stock’s fifty day moving average is $15.14 and its two-hundred day moving average is $19.42. The firm has a market capitalization of $636.02 million, a P/E ratio of -3.58 and a beta of 0.80.

Cogent Communications Dividend Announcement

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

Insider Activity

In related news, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.01, for a total value of $40,824.00. Following the completion of the sale, the vice president owned 38,600 shares of the company’s stock, valued at approximately $656,586. This represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $16.79, for a total transaction of $81,431.50. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company’s stock.

Institutional Trading of Cogent Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in Cogent Communications by 208.6% in the first quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock valued at $27,000 after acquiring an additional 968 shares during the last quarter. Quarry LP acquired a new stake in Cogent Communications during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Cogent Communications during the fourth quarter worth $28,000. Hantz Financial Services Inc. raised its position in Cogent Communications by 313.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,127 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Cogent Communications in the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.