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.
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.
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