Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives Consensus Recommendation of “Hold” from Analysts

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $77.14.

Several equities research analysts recently weighed in on CCOI shares. Citigroup upped their target price on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group increased their price objective on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. boosted their target price on Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Cogent Communications in a research report on Tuesday, September 3rd. Finally, Bank of America cut Cogent Communications from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st.

Cogent Communications Stock Down 0.0 %

Shares of CCOI opened at $84.94 on Friday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43. The firm has a market cap of $4.16 billion, a P/E ratio of 3.37 and a beta of 0.41. The company’s 50-day moving average price is $74.44 and its 200 day moving average price is $65.67. Cogent Communications has a 12-month low of $50.80 and a 12-month high of $86.00.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The firm had revenue of $260.40 million for the quarter, compared to the consensus estimate of $264.32 million. During the same quarter in the previous year, the business earned ($0.13) EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cogent Communications will post -4.46 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.985 per share. This is a boost from Cogent Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, August 22nd. This represents a $3.94 annualized dividend and a yield of 4.64%. Cogent Communications’s payout ratio is presently 15.61%.

Insider Activity at Cogent Communications

In related news, Director Lewis H. Ferguson sold 1,550 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total value of $112,561.00. Following the transaction, the director now directly owns 17,748 shares of the company’s stock, valued at $1,288,859.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Lewis H. Ferguson sold 1,550 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total transaction of $112,561.00. Following the transaction, the director now owns 17,748 shares in the company, valued at $1,288,859.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John B. Chang sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.67, for a total value of $100,338.00. Following the completion of the sale, the vice president now owns 71,580 shares of the company’s stock, valued at approximately $5,130,138.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,870 shares of company stock valued at $4,716,057 over the last three months. 11.40% of the stock is owned by corporate insiders.

Institutional Trading of Cogent Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC boosted its holdings in shares of Cogent Communications by 1.1% in the second quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company’s stock valued at $1,095,000 after acquiring an additional 202 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Cogent Communications by 72.9% in the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Cogent Communications by 5.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock valued at $378,000 after purchasing an additional 262 shares in the last quarter. Blue Trust Inc. increased its position in Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after purchasing an additional 272 shares during the period. Finally, Covestor Ltd raised its stake in shares of Cogent Communications by 17.2% during the 1st quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock worth $123,000 after buying an additional 276 shares in the last quarter. 92.45% 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 in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.