Cogent Communications Holdings Inc (NASDAQ:CCOI) Receives $55.75 Consensus PT from Brokerages

Cogent Communications Holdings Inc (NASDAQ:CCOI) has been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $55.75.

Several brokerages recently issued reports on CCOI. Wells Fargo & Co raised their target price on Cogent Communications from $50.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Deutsche Bank lowered Cogent Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. CIBC reissued a “market perform” rating on shares of Cogent Communications in a research report on Friday, May 10th. BidaskClub lowered Cogent Communications from a “buy” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine lowered Cogent Communications from a “buy” rating to a “hold” rating in a research report on Thursday.

NASDAQ:CCOI traded down $0.25 during trading hours on Wednesday, hitting $56.45. 254,830 shares of the company were exchanged, compared to its average volume of 231,090. The company has a market cap of $2.87 billion, a PE ratio of 89.60, a price-to-earnings-growth ratio of 8.63 and a beta of 0.56. Cogent Communications has a one year low of $42.40 and a one year high of $64.24. The business’s fifty day moving average is $61.46.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, August 8th. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.06). The company had revenue of $134.79 million for the quarter, compared to the consensus estimate of $136.12 million. Cogent Communications had a negative return on equity of 22.47% and a net margin of 5.92%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 earnings per share. As a group, equities analysts expect that Cogent Communications will post 0.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 23rd will be given a $0.62 dividend. The ex-dividend date is Thursday, August 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.39%. Cogent Communications’s dividend payout ratio (DPR) is 380.95%.

In other news, Director Lewis H. Ferguson sold 515 shares of Cogent Communications stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $57.45, for a total value of $29,586.75. Following the completion of the transaction, the director now directly owns 3,355 shares of the company’s stock, valued at approximately $192,744.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Raymond B. Kummer sold 2,440 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $58.40, for a total value of $142,496.00. Following the completion of the sale, the vice president now owns 46,800 shares of the company’s stock, valued at $2,733,120. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,925 shares of company stock valued at $1,284,932. Corporate insiders own 10.17% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of Cogent Communications in the 4th quarter valued at about $3,903,000. Parametric Portfolio Associates LLC grew its stake in shares of Cogent Communications by 11.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 235,972 shares of the technology company’s stock valued at $12,801,000 after buying an additional 24,995 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in shares of Cogent Communications in the 2nd quarter valued at about $253,000. Brookstone Capital Management acquired a new stake in shares of Cogent Communications in the 2nd quarter valued at about $423,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Cogent Communications by 8.7% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the technology company’s stock valued at $27,125,000 after buying an additional 40,000 shares during the period. Institutional investors own 88.72% of the company’s stock.

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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Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

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