Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $77.57.

CCOI has been the subject of a number of research reports. TD Cowen increased their price objective on Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Bank of America cut Cogent Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $75.00 in a research report on Thursday, March 7th. JPMorgan Chase & Co. dropped their price objective on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. TheStreet raised Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. Finally, StockNews.com cut Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th.

Cogent Communications Price Performance

Shares of Cogent Communications stock opened at $64.90 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.24. The company has a market cap of $3.08 billion, a PE ratio of 2.43 and a beta of 0.39. The business has a 50 day moving average of $67.25 and a 200 day moving average of $69.55. Cogent Communications has a 52 week low of $57.35 and a 52 week high of $86.00.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 29th. The technology company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.79. The company had revenue of $272.10 million during the quarter, compared to the consensus estimate of $275.82 million. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. As a group, equities research analysts forecast that Cogent Communications will post -3.35 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th were paid a $0.965 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.86 annualized dividend and a dividend yield of 5.95%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. Cogent Communications’s dividend payout ratio (DPR) is 14.43%.

Insider Transactions at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total value of $176,328.00. Following the transaction, the vice president now owns 41,000 shares of the company’s stock, valued at $3,012,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $76.62, for a total transaction of $147,110.40. Following the sale, the executive now owns 54,822 shares of the company’s stock, valued at approximately $4,200,461.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $73.47, for a total value of $176,328.00. Following the sale, the vice president now directly owns 41,000 shares in the company, valued at approximately $3,012,270. The disclosure for this sale can be found here. Insiders have sold 69,320 shares of company stock valued at $4,669,997 over the last quarter. 11.00% of the stock is currently owned by company insiders.

Institutional Trading of Cogent Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCOI. Janney Montgomery Scott LLC boosted its holdings in shares of Cogent Communications by 25.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,021 shares of the technology company’s stock worth $785,000 after purchasing an additional 2,454 shares during the period. BNP Paribas Financial Markets lifted its stake in Cogent Communications by 1.1% in the first quarter. BNP Paribas Financial Markets now owns 38,040 shares of the technology company’s stock worth $2,485,000 after acquiring an additional 419 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Cogent Communications in the first quarter worth about $937,000. IFM Investors Pty Ltd purchased a new position in Cogent Communications in the first quarter valued at about $325,000. Finally, Capital Insight Partners LLC raised its holdings in Cogent Communications by 6.7% in the first quarter. Capital Insight Partners LLC now owns 62,138 shares of the technology company’s stock worth $4,059,000 after purchasing an additional 3,927 shares in the last quarter. Institutional investors own 92.45% 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 in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.