Cogent Communications Holdings, Inc. (CCOI) to Issue Quarterly Dividend of $0.48 on December 4th

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) announced a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Stockholders of record on Friday, November 17th will be given a dividend of 0.48 per share by the technology company on Monday, December 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Thursday, November 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.46.

Shares of Cogent Communications Holdings (NASDAQ CCOI) opened at $45.85 on Wednesday. The firm has a market cap of $2,065.68, a PE ratio of 124.86, a PEG ratio of 11.73 and a beta of 0.65. The company has a debt-to-equity ratio of -8.84, a current ratio of 4.22 and a quick ratio of 4.22. Cogent Communications Holdings has a 1 year low of $35.75 and a 1 year high of $54.85.

Cogent Communications Holdings (NASDAQ:CCOI) last released its earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The business had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $123.60 million. Cogent Communications Holdings had a negative return on equity of 23.86% and a net margin of 3.37%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. research analysts anticipate that Cogent Communications Holdings will post 0.38 earnings per share for the current fiscal year.

In other Cogent Communications Holdings news, CFO Thaddeus Gerard Weed sold 3,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $47.03, for a total transaction of $141,090.00. Following the transaction, the chief financial officer now owns 69,650 shares in the company, valued at approximately $3,275,639.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy G. Oneill sold 2,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $48.75, for a total transaction of $97,500.00. Following the transaction, the vice president now owns 39,052 shares in the company, valued at approximately $1,903,785. The disclosure for this sale can be found here. Insiders have sold a total of 17,716 shares of company stock worth $828,227 in the last 90 days. Company insiders own 9.48% of the company’s stock.

A number of analysts have recently weighed in on CCOI shares. Macquarie downgraded shares of Cogent Communications Holdings from a “neutral” rating to an “underperform” rating in a research report on Friday, November 3rd. Deutsche Bank AG upped their target price on shares of Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Jefferies Group LLC increased their price objective on shares of Cogent Communications Holdings from $39.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Finally, SunTrust Banks, Inc. downgraded shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Cogent Communications Holdings presently has an average rating of “Hold” and an average price target of $43.77.

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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.

Dividend History for Cogent Communications Holdings (NASDAQ:CCOI)

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