Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has received a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $42.67.
A number of analysts have weighed in on the stock. Citigroup Inc. cut shares of Cogent Communications Holdings from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $43.00 to $39.00 in a report on Thursday, November 2nd. Wells Fargo & Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $46.00 to $48.00 in a report on Monday, October 9th. Zacks Investment Research cut shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. KeyCorp reissued a “hold” rating on shares of Cogent Communications Holdings in a report on Wednesday, October 11th. Finally, Deutsche Bank AG raised their price objective on shares of Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th.
Shares of Cogent Communications Holdings (CCOI) opened at $46.95 on Monday. The firm has a market cap of $2,157.59, a P/E ratio of 130.42, a P/E/G ratio of 12.25 and a beta of 0.65. Cogent Communications Holdings has a 1-year low of $35.75 and a 1-year high of $54.85. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of -8.84.
Cogent Communications Holdings (NASDAQ:CCOI) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.06). Cogent Communications Holdings had a net margin of 3.37% and a negative return on equity of 23.86%. The firm had revenue of $123.00 million during the quarter, compared to analyst estimates of $123.60 million. During the same period last year, the business earned $0.08 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. equities analysts forecast that Cogent Communications Holdings will post 0.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Friday, November 17th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.09%. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, November 16th. Cogent Communications Holdings’s payout ratio is presently 533.33%.
In related news, VP Raymond B. Kummer sold 2,000 shares of Cogent Communications Holdings stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $45.78, for a total value of $91,560.00. Following the transaction, the vice president now directly owns 59,140 shares in the company, valued at approximately $2,707,429.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction on Friday, September 1st. The shares were sold at an average price of $46.60, for a total transaction of $46,600.00. Following the completion of the transaction, the vice president now owns 41,052 shares in the company, valued at $1,913,023.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,716 shares of company stock worth $828,227. 9.48% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. DF Dent & Co. Inc. grew its position in Cogent Communications Holdings by 28.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 35,481 shares of the technology company’s stock valued at $1,735,000 after buying an additional 7,963 shares during the last quarter. California Public Employees Retirement System grew its position in Cogent Communications Holdings by 4.8% in the 3rd quarter. California Public Employees Retirement System now owns 83,762 shares of the technology company’s stock valued at $4,096,000 after buying an additional 3,862 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in Cogent Communications Holdings in the 3rd quarter valued at $482,000. Asset Management One Co. Ltd. purchased a new position in Cogent Communications Holdings in the 3rd quarter valued at $1,418,000. Finally, Envestnet Asset Management Inc. grew its position in Cogent Communications Holdings by 225.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,762 shares of the technology company’s stock valued at $232,000 after buying an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.
Cogent Communications Holdings Company Profile
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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