Wall Street analysts expect that Cogent Communications Holdings Inc (NASDAQ:CCOI) will announce earnings per share (EPS) of $0.19 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Cogent Communications’ earnings. The lowest EPS estimate is $0.16 and the highest is $0.22. Cogent Communications reported earnings per share of $0.15 during the same quarter last year, which suggests a positive year-over-year growth rate of 26.7%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, May 2nd.
According to Zacks, analysts expect that Cogent Communications will report full-year earnings of $0.88 per share for the current year, with EPS estimates ranging from $0.74 to $1.07. For the next fiscal year, analysts forecast that the company will report earnings of $1.24 per share, with EPS estimates ranging from $0.97 to $1.51. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, February 21st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Cogent Communications had a negative return on equity of 23.57% and a net margin of 5.51%. The business had revenue of $132.05 million during the quarter, compared to analysts’ expectations of $132.63 million. During the same quarter in the previous year, the company posted ($0.14) EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Cogent Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine upgraded Cogent Communications from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Royal Bank of Canada increased their price target on Cogent Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday, February 25th. Finally, Zacks Investment Research lowered Cogent Communications from a “buy” rating to a “sell” rating in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $50.14.
In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 5,000 shares of Cogent Communications stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the chief financial officer now directly owns 61,050 shares of the company’s stock, valued at $3,052,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Raymond B. Kummer sold 3,000 shares of Cogent Communications stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.00, for a total transaction of $153,000.00. Following the completion of the transaction, the vice president now directly owns 46,640 shares in the company, valued at $2,378,640. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,150 shares of company stock valued at $1,229,209. Company insiders own 10.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCOI. Norges Bank purchased a new position in Cogent Communications in the fourth quarter worth $21,046,000. Morgan Stanley lifted its stake in shares of Cogent Communications by 353.3% during the third quarter. Morgan Stanley now owns 551,606 shares of the technology company’s stock worth $30,780,000 after buying an additional 429,912 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Cogent Communications by 1,855.1% during the fourth quarter. WINTON GROUP Ltd now owns 440,481 shares of the technology company’s stock worth $19,914,000 after buying an additional 417,951 shares during the period. BlackRock Inc. lifted its stake in shares of Cogent Communications by 3.6% during the third quarter. BlackRock Inc. now owns 6,654,760 shares of the technology company’s stock worth $371,336,000 after buying an additional 232,879 shares during the period. Finally, Federated Investors Inc. PA lifted its stake in shares of Cogent Communications by 53,122.3% during the third quarter. Federated Investors Inc. PA now owns 162,328 shares of the technology company’s stock worth $9,058,000 after buying an additional 162,023 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.
CCOI stock traded down $0.72 during trading on Friday, reaching $56.24. The company’s stock had a trading volume of 1,059 shares, compared to its average volume of 251,046. Cogent Communications has a 1 year low of $42.40 and a 1 year high of $57.92. The firm has a market capitalization of $2.64 billion, a PE ratio of 89.52, a PEG ratio of 8.04 and a beta of 0.71.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $0.58 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.56. The ex-dividend date was Thursday, March 7th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.13%. Cogent Communications’s dividend payout ratio (DPR) is presently 368.25%.
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.
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