Analysts Anticipate Cogent Communications Holdings Inc (CCOI) to Post $0.19 EPS

Wall Street brokerages forecast that Cogent Communications Holdings Inc (NASDAQ:CCOI) will post earnings per share of $0.19 for the current quarter, according to Zacks. Seven analysts have made estimates for Cogent Communications’ earnings. The highest EPS estimate is $0.22 and the lowest is $0.16. Cogent Communications posted earnings per share of $0.15 in the same quarter last year, which suggests a positive year-over-year growth rate of 26.7%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, May 2nd.

On average, analysts expect that Cogent Communications will report full-year earnings of $0.88 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $1.07. For the next financial year, analysts expect that the firm will report earnings of $1.24 per share, with EPS estimates ranging from $0.97 to $1.51. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cogent Communications.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 21st. The technology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $132.05 million during the quarter, compared to analysts’ expectations of $132.63 million. Cogent Communications had a negative return on equity of 23.57% and a net margin of 5.51%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) earnings per share.

Several equities research analysts recently commented on the company. BidaskClub upgraded Cogent Communications from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Zacks Investment Research downgraded Cogent Communications from a “buy” rating to a “sell” rating in a report on Wednesday, February 20th. ValuEngine upgraded Cogent Communications from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Deutsche Bank upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Monday, December 17th. Finally, Royal Bank of Canada raised their price objective on Cogent Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.14.

In related news, Director Lewis H. Ferguson sold 580 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $48.60, for a total transaction of $28,188.00. Following the completion of the transaction, the director now owns 2,120 shares in the company, valued at approximately $103,032. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the vice president now owns 37,652 shares of the company’s stock, valued at approximately $1,882,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,150 shares of company stock valued at $1,229,209. Insiders own 10.17% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Capital Insight Partners LLC raised its position in shares of Cogent Communications by 1.1% during the first quarter. Capital Insight Partners LLC now owns 23,805 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 259 shares during the period. Teachers Advisors LLC grew its stake in shares of Cogent Communications by 2.1% in the 3rd quarter. Teachers Advisors LLC now owns 109,507 shares of the technology company’s stock valued at $6,110,000 after purchasing an additional 2,277 shares during the period. Emerald Advisers LLC grew its stake in shares of Cogent Communications by 18.8% in the 4th quarter. Emerald Advisers LLC now owns 357,321 shares of the technology company’s stock valued at $16,154,000 after purchasing an additional 56,514 shares during the period. Ranger Investment Management L.P. grew its stake in shares of Cogent Communications by 7.4% in the 4th quarter. Ranger Investment Management L.P. now owns 599,560 shares of the technology company’s stock valued at $27,106,000 after purchasing an additional 41,377 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Cogent Communications in the 3rd quarter valued at approximately $327,000. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:CCOI traded down $0.07 during mid-day trading on Friday, hitting $56.27. 399 shares of the company traded hands, compared to its average volume of 262,598. The company has a market cap of $2.61 billion, a P/E ratio of 89.14, a PEG ratio of 7.96 and a beta of 0.71. Cogent Communications has a 52-week low of $42.40 and a 52-week high of $57.65.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a $0.58 dividend. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.56. The ex-dividend date was Thursday, March 7th. This represents a $2.32 annualized dividend and a dividend yield of 4.12%. Cogent Communications’s dividend payout ratio (DPR) is presently 368.25%.

About Cogent Communications

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.

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Earnings History and Estimates for Cogent Communications (NASDAQ:CCOI)

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