Analysts Expect Cogent Communications Holdings Inc (CCOI) Will Announce Earnings of $0.19 Per Share

Brokerages expect Cogent Communications Holdings Inc (NASDAQ:CCOI) to post earnings per share of $0.19 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Cogent Communications’ earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.15. Cogent Communications posted earnings per share of $0.11 during the same quarter last year, which would suggest a positive year-over-year growth rate of 72.7%. The business is scheduled to report its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that Cogent Communications will report full-year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.63 to $0.68. For the next year, analysts anticipate that the company will report earnings of $0.94 per share, with EPS estimates ranging from $0.75 to $1.17. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover 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 for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $130.00 million during the quarter, compared to analysts’ expectations of $132.09 million. Cogent Communications had a net margin of 2.99% and a negative return on equity of 24.22%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share.

A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating in a report on Saturday, September 29th. William Blair restated an “outperform” rating on shares of Cogent Communications in a report on Monday, October 8th. BTIG Research cut shares of Cogent Communications from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 price objective for the company in a report on Monday, October 8th. Finally, Guggenheim restated a “hold” rating and issued a $47.00 price objective on shares of Cogent Communications in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.14.

Shares of CCOI stock traded down $1.20 during trading on Friday, reaching $50.05. The company’s stock had a trading volume of 273,000 shares, compared to its average volume of 271,500. The stock has a market capitalization of $2.38 billion, a P/E ratio of 131.71, a price-to-earnings-growth ratio of 9.69 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 company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.24 dividend on an annualized basis and a yield of 4.48%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.54. Cogent Communications’s payout ratio is currently 568.42%.

In related news, Director Tim Weingarten sold 2,500 shares of Cogent Communications stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $51.01, for a total value of $127,525.00. Following the completion of the transaction, the director now owns 21,111 shares in the company, valued at $1,076,872.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert N. Beury, Jr. sold 3,000 shares of Cogent Communications stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $53.95, for a total transaction of $161,850.00. Following the completion of the transaction, the vice president now owns 47,840 shares of the company’s stock, valued at approximately $2,580,968. The disclosure for this sale can be found here. Insiders sold 34,411 shares of company stock valued at $1,872,326 in the last quarter. 10.21% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of CCOI. JPMorgan Chase & Co. lifted its stake in Cogent Communications by 21.1% in the first quarter. JPMorgan Chase & Co. now owns 87,993 shares of the technology company’s stock worth $3,818,000 after acquiring an additional 15,352 shares during the last quarter. Sei Investments Co. lifted its position in shares of Cogent Communications by 29.7% during the 1st quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock worth $232,000 after buying an additional 1,223 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Cogent Communications by 2.8% during the 1st quarter. Guggenheim Capital LLC now owns 120,635 shares of the technology company’s stock worth $5,236,000 after buying an additional 3,290 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Cogent Communications by 2.1% during the 1st quarter. Legal & General Group Plc now owns 86,628 shares of the technology company’s stock worth $3,731,000 after buying an additional 1,757 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Cogent Communications during the 1st quarter worth approximately $574,000. 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.

Featured Story: What is Compound Interest?

Get a free copy of the Zacks research report on Cogent Communications (CCOI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cogent Communications (NASDAQ:CCOI)

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.

Leave a Reply