Wall Street analysts forecast that Cogent Communications Holdings Inc (NASDAQ:CCOI) will announce sales of $132.90 million for the current quarter, according to Zacks. Seven analysts have made estimates for Cogent Communications’ earnings, with the highest sales estimate coming in at $133.90 million and the lowest estimate coming in at $132.10 million. Cogent Communications reported sales of $125.23 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.1%. The company is scheduled to announce its next earnings results on Thursday, February 28th.
According to Zacks, analysts expect that Cogent Communications will report full-year sales of $520.98 million for the current financial year, with estimates ranging from $520.24 million to $522.04 million. For the next year, analysts expect that the firm will report sales of $559.01 million, with estimates ranging from $555.92 million to $562.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Cogent Communications had a negative return on equity of 24.22% and a net margin of 2.99%. The firm had revenue of $130.00 million for the quarter, compared to analysts’ expectations of $132.09 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Cogent Communications’s revenue for the quarter was up 5.7% compared to the same quarter last year.
Shares of Cogent Communications stock traded up $0.70 on Friday, reaching $51.84. 5,130 shares of the company were exchanged, compared to its average volume of 345,211. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 136.71, a PEG ratio of 7.67 and a beta of 0.61. Cogent Communications has a 1-year low of $35.75 and a 1-year high of $57.65.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be given a $0.56 dividend. This is a boost from Cogent Communications’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, November 15th. Cogent Communications’s dividend payout ratio (DPR) is currently 568.42%.
In related news, CFO Thaddeus Gerard Weed sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $53.55, for a total value of $240,975.00. Following the sale, the chief financial officer now directly owns 69,050 shares in the company, valued at approximately $3,697,627.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $55.80, for a total value of $55,800.00. Following the completion of the sale, the vice president now owns 38,652 shares in the company, valued at $2,156,781.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,911 shares of company stock worth $1,744,801. 10.21% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CCOI. Sei Investments Co. boosted its stake in Cogent Communications by 29.7% during the 1st quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock valued at $232,000 after purchasing an additional 1,223 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Cogent Communications during the 3rd quarter valued at $232,000. Captrust Financial Advisors bought a new position in Cogent Communications during the 2nd quarter valued at $266,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Cogent Communications during the 2nd quarter valued at $311,000. Finally, Parametrica Management Ltd bought a new position in Cogent Communications during the 3rd quarter valued at $317,000. Hedge funds and other institutional investors own 90.36% of the company’s stock.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
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