Wall Street analysts predict that Cogent Communications Holdings Inc (NASDAQ:CCOI) will post sales of $135.48 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Cogent Communications’ earnings, with the highest sales estimate coming in at $136.95 million and the lowest estimate coming in at $134.65 million. Cogent Communications posted sales of $128.71 million in the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, May 2nd.
According to Zacks, analysts expect that Cogent Communications will report full-year sales of $554.07 million for the current financial year, with estimates ranging from $551.30 million to $556.05 million. For the next financial year, analysts expect that the company will report sales of $592.07 million, with estimates ranging from $582.28 million to $599.77 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, February 21st. The technology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Cogent Communications had a negative return on equity of 23.57% and a net margin of 5.51%. The firm had revenue of $132.05 million for the quarter, compared to analyst estimates of $132.63 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.
In other news, Director Lewis H. Ferguson sold 580 shares of Cogent Communications stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $48.60, for a total transaction of $28,188.00. Following the transaction, the director now owns 2,120 shares in the company, valued at approximately $103,032. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications stock in a transaction dated 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 in the company, valued at approximately $1,882,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,150 shares of company stock worth $1,229,209. Corporate insiders own 10.17% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new position in Cogent Communications in the 4th quarter worth about $69,000. Advisor Group Inc. lifted its stake in Cogent Communications by 43.3% during the fourth quarter. Advisor Group Inc. now owns 1,609 shares of the technology company’s stock worth $72,000 after purchasing an additional 486 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cogent Communications by 16.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,895 shares of the technology company’s stock worth $131,000 after purchasing an additional 408 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Cogent Communications during the third quarter worth about $218,000. Finally, Neuberger Berman Group LLC bought a new stake in Cogent Communications during the third quarter worth about $241,000. Institutional investors and hedge funds own 90.35% of the company’s stock.
NASDAQ CCOI traded down $0.72 on Friday, reaching $56.24. The company’s stock had a trading volume of 1,059 shares, compared to its average volume of 251,046. Cogent Communications has a twelve month low of $42.40 and a twelve month high of $57.92. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 89.52, a PEG ratio of 8.04 and a beta of 0.71.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Cogent Communications’s previous quarterly dividend of $0.56. Cogent Communications’s dividend payout ratio (DPR) is 368.25%.
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.
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