Cogent Communications Holdings Inc (CCOI) Given Consensus Rating of “Hold” by Analysts

Cogent Communications Holdings Inc (NASDAQ:CCOI) has been assigned an average rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $50.71.

A number of research firms have issued reports on CCOI. BidaskClub lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Saturday, September 22nd. Citigroup boosted their target price on shares of Cogent Communications from $39.00 to $42.00 and gave the company a “sell” rating in a research note on Friday, November 2nd. Wells Fargo & Co boosted their target price on shares of Cogent Communications from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, November 2nd. Zacks Investment Research upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 price target on the stock in a research report on Monday, October 8th. Finally, Royal Bank of Canada set a $48.00 price target on shares of Cogent Communications and gave the stock a “hold” rating in a research report on Tuesday, November 13th.

In other Cogent Communications news, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $55.80, for a total transaction of $55,800.00. Following the sale, the vice president now directly owns 38,652 shares in the company, valued at approximately $2,156,781.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $49.16, for a total transaction of $147,480.00. Following the sale, the vice president now owns 38,840 shares in the company, valued at $1,909,374.40. The disclosure for this sale can be found here. Insiders have sold a total of 29,911 shares of company stock worth $1,616,981 over the last 90 days. 10.21% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCOI. Pacer Advisors Inc. bought a new stake in shares of Cogent Communications in the 3rd quarter worth approximately $218,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Cogent Communications during the third quarter valued at approximately $232,000. Neuberger Berman Group LLC acquired a new stake in shares of Cogent Communications during the third quarter valued at approximately $241,000. Virtu Financial LLC acquired a new stake in shares of Cogent Communications during the third quarter valued at approximately $264,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Cogent Communications during the second quarter valued at approximately $266,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Cogent Communications stock traded down $2.51 during midday trading on Friday, reaching $47.37. 331,236 shares of the stock traded hands, compared to its average volume of 296,270. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 124.66, a PEG ratio of 9.45 and a beta of 0.55. Cogent Communications has a fifty-two week low of $35.75 and a fifty-two week high of $57.65.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, November 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $130.00 million during the quarter, compared to analyst estimates of $132.09 million. Cogent Communications had a net margin of 2.99% and a negative return on equity of 24.22%. Cogent Communications’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. Research analysts anticipate that Cogent Communications will post 0.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.73%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, November 15th. Cogent Communications’s payout ratio is 589.47%.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

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