Analysts expect that Cogent Communications Holdings, Inc. (NASDAQ:CCOI) will post $0.15 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have provided estimates for Cogent Communications’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.12. Cogent Communications posted earnings of $0.09 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 66.7%. The business is expected to issue its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Cogent Communications will report full-year earnings of $0.75 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $0.80. For the next fiscal year, analysts forecast that the business will report earnings of $1.11 per share, with EPS estimates ranging from $0.93 to $1.26. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly 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). The company had revenue of $125.20 million for the quarter, compared to analyst estimates of $126.27 million. Cogent Communications had a negative return on equity of 21.64% and a net margin of 1.21%. Cogent Communications’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share.
In related news, CFO Thaddeus Gerard Weed sold 6,000 shares of Cogent Communications stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $45.17, for a total value of $271,020.00. Following the sale, the chief financial officer now directly owns 81,050 shares in the company, valued at approximately $3,661,028.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tim Weingarten sold 1,700 shares of Cogent Communications stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $43.60, for a total value of $74,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock worth $617,633 over the last 90 days. Insiders own 9.48% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CCOI. Renaissance Technologies LLC boosted its holdings in Cogent Communications by 14.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,775,300 shares of the technology company’s stock worth $125,721,000 after buying an additional 354,800 shares during the last quarter. First Trust Advisors LP boosted its holdings in Cogent Communications by 16.6% in the 4th quarter. First Trust Advisors LP now owns 1,447,822 shares of the technology company’s stock worth $65,586,000 after buying an additional 206,001 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Cogent Communications by 125.6% in the 4th quarter. APG Asset Management N.V. now owns 193,600 shares of the technology company’s stock worth $7,304,000 after buying an additional 107,800 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Cogent Communications in the 4th quarter worth about $3,458,000. Finally, Russell Investments Group Ltd. boosted its holdings in Cogent Communications by 57.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 176,265 shares of the technology company’s stock worth $8,619,000 after buying an additional 64,167 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.
CCOI traded down $1.15 during midday trading on Monday, hitting $44.20. 383,908 shares of the company were exchanged, compared to its average volume of 237,179. The company has a market capitalization of $2,101.00, a P/E ratio of 116.32, a P/E/G ratio of 6.08 and a beta of 0.50. The company has a debt-to-equity ratio of -6.93, a quick ratio of 4.11 and a current ratio of 4.11. Cogent Communications has a 1-year low of $35.75 and a 1-year high of $54.85.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Friday, March 9th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, March 8th. This is a boost from Cogent Communications’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. Cogent Communications’s dividend payout ratio (DPR) is 526.32%.
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Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
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