Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Received Consensus “Hold” Recommendation from Analysts
Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) has earned an average rating of “Hold” from the nine research companies that currently cover the business, Marketbeat reports. Two research analysts rated the stock with a sell recommendation, two gave a hold recommendation and three gave the company a buy recommendation. The average 1-year price target among brokerages that have reported on the stock in the past year is $74.14.
A number of brokerages have recently commented on CCOI. StockNews.com began covering Cogent Communications shares in a research report on Thursday, March 31. They issued a “hold” rating for the company. TheStreet upgraded shares of Cogent Communications from a “b-” rating to a “c” rating in a Friday, April 29 report. Citigroup lowered its price target on Cogent Communications shares from $73.00 to $70.00 in a Monday, May 2 report. Finally, JPMorgan Chase & Co. upgraded shares of Cogent Communications from a “neutral” rating to an “overweight” rating and set a target price of $82.00 for the company in a Thursday, February 10, report.
The NASDAQ CCOI opened at $61.38 on Friday. Cogent Communications has a one-year minimum of $55.16 and a one-year maximum of $80.50. The company has a market capitalization of $2.94 billion, a price-earnings ratio of 95.91 and a beta of 0.31. The company has a 50-day simple moving average of $62.73 and a 200-day simple moving average of $66.78.
Cogent Communications (NASDAQ:CCOI – Get Rating) last announced its results on Friday, April 29. The technology company reported earnings per share of $0.02 for the quarter, missing the consensus estimate of $0.20 per ($0.18). Cogent Communications has a negative return on equity of 6.39% and a net margin of 5.15%. The company posted revenue of $149.20 million for the quarter, versus analyst estimates of $149.10 million. During the same quarter last year, the company posted EPS of $0.41. Cogent Communications quarterly revenue increased 1.6% year-on-year. As a group, analysts expect Cogent Communications to post 0.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.88 per share. This represents a dividend of $3.52 on an annualized basis and a dividend yield of 5.73%. This is a boost from Cogent Communications’ previous quarterly dividend of $0.86. The ex-dividend date was Thursday, May 12. Cogent Communications’ dividend payout ratio (DPR) is 550.01%.
Separately, CRO James Bubeck sold 1,920 shares in a trade dated Tuesday, March 1. The stock was sold at an average price of $62.94, for a total transaction of $120,844.80. The transaction was disclosed in a filing with the SEC, accessible via the SEC’s website. Additionally, Vice Chairman John B. Chang sold 600 shares in a trade dated Thursday, March 17. The stock was sold at an average price of $62.96, for a total value of $37,776.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 3,170 shares of the company valued at $201,846. Company insiders own 11.00% of the company’s shares.
A number of large investors have recently changed their positions in the company. BlackRock Inc. increased its stake in Cogent Communications by 10.2% during the fourth quarter. BlackRock Inc. now owns 7,072,055 shares of the technology company worth $517,534,000 after acquiring an additional 654,635 shares in the last quarter. Vanguard Group Inc. increased its position in Cogent Communications by 2.2% in the first quarter. Vanguard Group Inc. now owns 4,939,989 shares of the technology company valued at $327,768,000 after acquiring an additional 104,827 shares last quarter. Vaughan Nelson Investment Management LP increased its stake in shares of Cogent Communications by 1.9% during the first quarter. Vaughan Nelson Investment Management LP now owns 1,786,306 shares of the technology company valued at $118,522,000 after buying 33,171 additional shares during the period. State Street Corp increased its stake in shares of Cogent Communications by 14.0% in the first quarter. State Street Corp now owns 1,706,265 shares of the technology company valued at $113,211,000 after purchasing an additional 210,120 shares during the period. Finally, Brown Advisory Inc. increased its stake in Cogent Communications by 1.1% in the 1st quarter. Brown Advisory Inc. now owns 1,538,604 shares of the technology company valued at $102,157,000 after buying an additional 16,094 shares last quarter. Institutional investors hold 86.06% of the company’s shares.
Cogent Communications Company Profile (Get a rating)
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private networking, and data center colocation space services in North America, Europe, Asia, South America South, Australia and Africa. The Company provides Internet access and online private network services to law firms, financial services companies, and advertising and marketing companies, as well as healthcare providers, educational institutions and other professional services companies, other Internet service providers, telephone companies, cable companies, television companies, web hosting companies, media service providers, mobile phone operators, network companies content delivery and commercial content and application service providers.
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