Headlines about Cogent Communications (NASDAQ:CCOI) have been trending somewhat positive recently, according to Accern Sentiment. The research group scores the sentiment of press coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Cogent Communications earned a daily sentiment score of 0.17 on Accern’s scale. Accern also gave media headlines about the technology company an impact score of 48.4828987681095 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news stories that may have effected Accern’s analysis:
- $0.15 Earnings Per Share Expected for Cogent Communications Holdings Inc (CCOI) This Quarter (americanbankingnews.com)
- Cogent Communications Holdings Inc Forecasted to Post FY2018 Earnings of $0.67 Per Share (CCOI) (americanbankingnews.com)
- Q1 2018 EPS Estimates for Cogent Communications Holdings Inc (CCOI) Lifted by Jefferies Group (americanbankingnews.com)
- Oppenheimer Weighs in on Cogent Communications Holdings Inc’s Q1 2018 Earnings (CCOI) (americanbankingnews.com)
- KeyCorp Comments on Cogent Communications Holdings Inc’s Q1 2018 Earnings (CCOI) (americanbankingnews.com)
A number of equities analysts recently commented on CCOI shares. Zacks Investment Research upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Monday, January 15th. Citigroup lowered Cogent Communications from a “neutral” rating to a “sell” rating and reduced their price target for the company from $43.00 to $39.00 in a research report on Thursday, November 2nd. BidaskClub lowered Cogent Communications from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Raymond James Financial reaffirmed an “underperform” rating on shares of Cogent Communications in a research report on Friday, November 3rd. Finally, Deutsche Bank reduced their price target on Cogent Communications from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Cogent Communications has an average rating of “Hold” and a consensus price target of $44.00.
Cogent Communications (NASDAQ:CCOI) last issued 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 negative return on equity of 21.64% and a net margin of 1.21%. The business had revenue of $125.20 million for the quarter, compared to analyst estimates of $126.27 million. During the same period last year, the business posted $0.09 EPS. Cogent Communications’s revenue was up 8.3% on a year-over-year basis. equities research analysts expect that Cogent Communications will post 0.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be given a dividend of $0.50 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, March 8th. This represents a $2.00 annualized dividend and a yield of 4.67%. Cogent Communications’s payout ratio is 505.26%.
In related news, VP Henry W. Kilmer sold 3,000 shares of Cogent Communications stock in a transaction that occurred 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 sale, the vice president now directly owns 33,600 shares in the company, valued at $1,496,544. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Marc Montagner sold 5,000 shares of Cogent Communications stock in a transaction that occurred 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 sale, the director now owns 40,000 shares in the company, valued at $1,880,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,250 shares of company stock worth $611,435. 9.48% of the stock is currently owned by corporate insiders.
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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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