Cogent Communications Holdings Inc (CCOI) Given Average Rating of “Hold” by Analysts

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Shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) have received an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $51.14.

A number of research firms have recently commented on CCOI. BidaskClub cut Cogent Communications from a “buy” rating to a “hold” rating in a research note on Saturday, September 22nd. Citigroup upped their target price on Cogent Communications from $39.00 to $42.00 and gave the company a “sell” rating in a research note on Friday, November 2nd. Wells Fargo & Co upped their target price on Cogent Communications from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, November 2nd. Zacks Investment Research raised Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 target price on the stock in a research note on Monday, October 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Cogent Communications in a research note on Monday, October 8th.

Shares of CCOI traded down $1.20 during mid-day trading on Monday, reaching $50.05. 273,093 shares of the company’s stock traded hands, compared to its average volume of 347,655. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 131.71, a P/E/G ratio of 9.79 and a beta of 0.61. Cogent Communications has a 12 month low of $35.75 and a 12 month high of $57.65.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 1st. The technology company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $130.00 million for the quarter, compared to analysts’ expectations of $132.09 million. Cogent Communications had a negative return on equity of 24.22% and a net margin of 2.99%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, sell-side analysts expect that Cogent Communications will post 0.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a $0.56 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.24 annualized dividend and a yield of 4.48%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.54. Cogent Communications’s dividend payout ratio is 568.42%.

In related news, CFO Thaddeus Gerard Weed sold 4,500 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $53.55, for a total value of $240,975.00. Following the transaction, the chief financial officer now owns 69,050 shares of the company’s stock, valued at $3,697,627.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $53.95, for a total value of $161,850.00. Following the completion of the transaction, the vice president now directly owns 47,840 shares in the company, valued at approximately $2,580,968. The disclosure for this sale can be found here. In the last three months, insiders sold 34,411 shares of company stock worth $1,872,326. 10.21% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Cogent Communications by 3.6% during the third quarter. BlackRock Inc. now owns 6,654,760 shares of the technology company’s stock worth $371,336,000 after buying an additional 232,879 shares during the period. Renaissance Technologies LLC lifted its holdings in Cogent Communications by 9.5% during the second quarter. Renaissance Technologies LLC now owns 3,289,400 shares of the technology company’s stock worth $175,654,000 after buying an additional 285,400 shares during the period. Brown Advisory Inc. lifted its holdings in Cogent Communications by 4.4% during the second quarter. Brown Advisory Inc. now owns 2,102,017 shares of the technology company’s stock worth $112,247,000 after buying an additional 87,707 shares during the period. First Trust Advisors LP lifted its holdings in Cogent Communications by 9.5% during the third quarter. First Trust Advisors LP now owns 2,026,730 shares of the technology company’s stock worth $113,092,000 after buying an additional 175,601 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Cogent Communications by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,355,882 shares of the technology company’s stock worth $72,405,000 after buying an additional 3,782 shares during the period. 90.36% of the stock is currently owned by institutional investors.

About Cogent Communications

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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Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

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