Analysts predict that Cogent Communications Holdings Inc (NASDAQ:CCOI) will post sales of $127.83 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Cogent Communications’ earnings, with estimates ranging from $127.10 million to $128.90 million. Cogent Communications reported sales of $117.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The company is expected to announce its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Cogent Communications will report full-year sales of $127.83 million for the current year, with estimates ranging from $526.80 million to $533.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $574.45 million per share, with estimates ranging from $566.93 million to $584.80 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $125.20 million during the quarter, compared to analyst estimates of $126.27 million. During the same period in the previous year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis.
Shares of Cogent Communications (CCOI) opened at $42.85 on Thursday. Cogent Communications has a twelve month low of $35.75 and a twelve month high of $54.85. The company has a debt-to-equity ratio of -6.93, a current ratio of 4.11 and a quick ratio of 4.22. The firm has a market capitalization of $2,020.00, a P/E ratio of 112.76, a PEG ratio of 5.96 and a beta of 0.49.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be paid a dividend of $0.50 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Thursday, March 8th. Cogent Communications’s dividend payout ratio is presently 505.26%.
In related news, CFO Thaddeus Gerard Weed sold 2,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $45.81, for a total transaction of $91,620.00. Following the completion of the transaction, the chief financial officer now directly owns 67,650 shares in the company, valued at approximately $3,099,046.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Marc Montagner sold 5,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $47.00, for a total value of $235,000.00. Following 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. Over the last 90 days, insiders have sold 13,250 shares of company stock valued at $611,435. 9.48% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its stake in Cogent Communications by 42.4% during the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after buying an additional 1,240 shares during the last quarter. Ramsey Quantitative Systems bought a new position in Cogent Communications during the 4th quarter worth $204,000. Envestnet Asset Management Inc. grew its stake in Cogent Communications by 225.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,762 shares of the technology company’s stock worth $232,000 after buying an additional 3,300 shares during the last quarter. Crestwood Capital Management L.P. bought a new position in Cogent Communications during the 4th quarter worth $263,000. Finally, HBK Investments L P bought a new position in Cogent Communications during the 4th quarter worth $276,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.
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About Cogent Communications
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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