BidaskClub Lowers Cogent Communications (NASDAQ:CCOI) to Hold

Share on StockTwits

Cogent Communications (NASDAQ:CCOI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday, BidAskClub reports.

CCOI has been the topic of several other research reports. ValuEngine upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Royal Bank of Canada upped their price objective on shares of Cogent Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, February 25th. Zacks Investment Research lowered shares of Cogent Communications from a “buy” rating to a “sell” rating in a report on Wednesday, February 20th. Oppenheimer lowered shares of Cogent Communications from an “outperform” rating to a “market perform” rating in a report on Friday, May 10th. Finally, CIBC reiterated a “market perform” rating on shares of Cogent Communications in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $51.71.

CCOI stock opened at $60.64 on Tuesday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 96.25, a PEG ratio of 8.61 and a beta of 0.57. Cogent Communications has a 12-month low of $42.40 and a 12-month high of $61.43.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Cogent Communications had a net margin of 5.92% and a negative return on equity of 22.47%. The firm had revenue of $134.20 million for the quarter, compared to analyst estimates of $135.21 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts expect that Cogent Communications will post 0.88 EPS for the current year.

In other Cogent Communications news, Director Blake Bath sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.88, for a total value of $578,800.00. Following the completion of the sale, the director now directly owns 18,425 shares of the company’s stock, valued at approximately $1,066,439. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Raymond B. Kummer sold 2,400 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $61.24, for a total transaction of $146,976.00. Following the completion of the sale, the vice president now directly owns 41,400 shares of the company’s stock, valued at $2,535,336. The disclosure for this sale can be found here. Insiders sold a total of 41,025 shares of company stock worth $2,341,033 in the last 90 days. 10.17% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CCOI. JPMorgan Chase & Co. grew its position in shares of Cogent Communications by 24.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,143 shares of the technology company’s stock valued at $5,533,000 after acquiring an additional 19,538 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cogent Communications by 16.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,895 shares of the technology company’s stock valued at $131,000 after acquiring an additional 408 shares during the period. Rhumbline Advisers grew its position in shares of Cogent Communications by 19.3% during the 4th quarter. Rhumbline Advisers now owns 131,389 shares of the technology company’s stock valued at $5,940,000 after acquiring an additional 21,235 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in shares of Cogent Communications by 6.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 369,231 shares of the technology company’s stock valued at $16,693,000 after acquiring an additional 22,985 shares during the period. Finally, WINTON GROUP Ltd grew its position in shares of Cogent Communications by 1,855.1% during the 4th quarter. WINTON GROUP Ltd now owns 440,481 shares of the technology company’s stock valued at $19,914,000 after acquiring an additional 417,951 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

Featured Story: What is the return on assets formula?

Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

Receive News & Ratings for Cogent Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Analysts Anticipate City Holding  Will Post Quarterly Sales of $57.31 Million
Analysts Anticipate City Holding Will Post Quarterly Sales of $57.31 Million
Mylan NV  Expected to Announce Quarterly Sales of $2.84 Billion
Mylan NV Expected to Announce Quarterly Sales of $2.84 Billion
$1.52 Billion in Sales Expected for Advanced Micro Devices, Inc.  This Quarter
$1.52 Billion in Sales Expected for Advanced Micro Devices, Inc. This Quarter
$837.78 Million in Sales Expected for Brinker International, Inc.  This Quarter
$837.78 Million in Sales Expected for Brinker International, Inc. This Quarter
$12.22 Million in Sales Expected for Veritone Inc  This Quarter
$12.22 Million in Sales Expected for Veritone Inc This Quarter
$252.82 Million in Sales Expected for DiamondRock Hospitality  This Quarter
$252.82 Million in Sales Expected for DiamondRock Hospitality This Quarter


© 2006-2019 Ticker Report