Cogent Communications Holdings Inc (NASDAQ:CCOI) – Stock analysts at Jefferies Group lifted their Q1 2018 EPS estimates for shares of Cogent Communications in a report issued on Friday. Jefferies Group analyst S. Goldman now expects that the technology company will post earnings of $0.13 per share for the quarter, up from their prior estimate of $0.10. Jefferies Group currently has a “Hold” rating and a $43.00 target price on the stock. Jefferies Group also issued estimates for Cogent Communications’ Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.27 EPS and FY2019 earnings at $1.10 EPS.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, January 25th. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Deutsche Bank cut their price target on Cogent Communications from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday. Finally, SunTrust Banks cut Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $42.18.
Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). Cogent Communications had a net margin of 1.21% and a negative return on equity of 21.64%. The company had revenue of $125.20 million during the quarter, compared to analysts’ expectations of $126.27 million. During the same quarter last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be paid a $0.50 dividend. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, March 8th. Cogent Communications’s dividend payout ratio is presently 1,477.04%.
In related news, VP Henry W. Kilmer sold 3,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $44.54, for a total value of $133,620.00. Following the completion of the transaction, the vice president now directly owns 33,600 shares in the company, valued at $1,496,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Montagner sold 5,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $235,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $1,880,000. The disclosure for this sale can be found here. Insiders sold 13,250 shares of company stock valued at $611,435 over the last quarter. Insiders own 9.48% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CCOI. River Road Asset Management LLC increased its stake in Cogent Communications by 215.9% in the third quarter. River Road Asset Management LLC now owns 693,363 shares of the technology company’s stock valued at $33,905,000 after purchasing an additional 473,909 shares during the last quarter. Jennison Associates LLC increased its stake in Cogent Communications by 25.3% in the third quarter. Jennison Associates LLC now owns 2,340,837 shares of the technology company’s stock valued at $114,467,000 after purchasing an additional 473,088 shares during the last quarter. Renaissance Technologies LLC increased its stake in Cogent Communications by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,775,300 shares of the technology company’s stock valued at $125,721,000 after purchasing an additional 354,800 shares during the last quarter. First Trust Advisors LP increased its stake in Cogent Communications by 16.6% in the fourth quarter. First Trust Advisors LP now owns 1,447,822 shares of the technology company’s stock valued at $65,586,000 after purchasing an additional 206,001 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in Cogent Communications by 125.6% in the fourth quarter. APG Asset Management N.V. now owns 193,600 shares of the technology company’s stock valued at $7,304,000 after purchasing an additional 107,800 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.
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Cogent Communications Company Profile
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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