Wall Street analysts expect Cogent Communications Holdings, Inc. (NASDAQ:CCOI) to report sales of $127.85 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Cogent Communications’ earnings. The highest sales estimate is $128.90 million and the lowest is $127.10 million. Cogent Communications reported sales of $117.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.1%. The firm is expected to report its next earnings results on Thursday, May 3rd.
On average, analysts expect that Cogent Communications will report full year sales of $127.85 million for the current fiscal year, with estimates ranging from $526.29 million to $533.20 million. For the next year, analysts anticipate that the firm will report sales of $574.74 million per share, with estimates ranging from $569.51 million to $584.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last released its quarterly 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 firm had revenue of $125.20 million for the quarter, compared to the consensus estimate of $126.27 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis.
In other news, CFO Thaddeus Gerard Weed sold 6,000 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $45.17, for a total transaction of $271,020.00. Following the sale, the chief financial officer now directly owns 81,050 shares of the company’s stock, valued at $3,661,028.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tim Weingarten sold 1,700 shares of the stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $43.60, for a total transaction of $74,120.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,000 shares of company stock valued at $617,633. Company insiders own 10.35% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank grew its stake in shares of Cogent Communications by 6.3% during the fourth quarter. Swiss National Bank now owns 75,600 shares of the technology company’s stock valued at $3,425,000 after purchasing an additional 4,500 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of Cogent Communications by 248.7% during the fourth quarter. Pinebridge Investments L.P. now owns 17,893 shares of the technology company’s stock valued at $810,000 after purchasing an additional 12,762 shares during the last quarter. Aperio Group LLC grew its stake in shares of Cogent Communications by 31.5% during the fourth quarter. Aperio Group LLC now owns 14,270 shares of the technology company’s stock valued at $646,000 after purchasing an additional 3,417 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Cogent Communications during the fourth quarter valued at approximately $310,000. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Cogent Communications by 10.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 207,033 shares of the technology company’s stock valued at $10,124,000 after purchasing an additional 20,167 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.
CCOI stock traded up $0.60 during mid-day trading on Wednesday, reaching $44.80. 184,030 shares of the stock traded hands, compared to its average volume of 285,202. The company has a debt-to-equity ratio of -6.93, a current ratio of 4.11 and a quick ratio of 4.11. Cogent Communications has a 52 week low of $35.75 and a 52 week high of $54.85. The stock has a market capitalization of $2,047.72, a price-to-earnings ratio of 116.32, a price-to-earnings-growth ratio of 5.92 and a beta of 0.49.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Friday, March 9th were issued 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 of this dividend was Thursday, March 8th. This represents a $2.00 annualized dividend and a dividend yield of 4.46%. Cogent Communications’s dividend payout ratio (DPR) is presently 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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