$0.21 EPS Expected for Cogent Communications Holdings Inc (NASDAQ:CCOI) This Quarter

Equities analysts expect Cogent Communications Holdings Inc (NASDAQ:CCOI) to announce $0.21 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Cogent Communications’ earnings. The highest EPS estimate is $0.25 and the lowest is $0.16. Cogent Communications reported earnings per share of $0.16 in the same quarter last year, which suggests a positive year-over-year growth rate of 31.3%. The company is scheduled to report its next earnings results on Thursday, February 20th.

According to Zacks, analysts expect that Cogent Communications will report full year earnings of $0.87 per share for the current year, with EPS estimates ranging from $0.82 to $0.90. For the next year, analysts forecast that the business will post earnings of $0.96 per share, with EPS estimates ranging from $0.56 to $1.16. Zacks’ EPS averages are an average based on a survey of analysts that follow Cogent Communications.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. The business had revenue of $136.94 million during the quarter, compared to the consensus estimate of $136.50 million. Cogent Communications had a net margin of 6.91% and a negative return on equity of 21.84%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS.

Several analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Cogent Communications from $54.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 13th. BidaskClub upgraded shares of Cogent Communications from a “buy” rating to a “strong-buy” rating in a research report on Saturday. TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b-” rating in a research report on Thursday, November 21st. Zacks Investment Research upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Wednesday, January 8th. Finally, ValuEngine downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Cogent Communications presently has an average rating of “Hold” and an average price target of $68.00.

Shares of NASDAQ:CCOI traded up $0.32 during trading on Friday, hitting $71.28. 5,799 shares of the company were exchanged, compared to its average volume of 307,209. The stock has a market capitalization of $3.33 billion, a P/E ratio of 113.06, a PEG ratio of 9.14 and a beta of 0.58. Cogent Communications has a 12-month low of $45.97 and a 12-month high of $71.19. The firm’s 50 day moving average price is $64.73 and its 200-day moving average price is $60.69.

In related news, Director Lewis H. Ferguson sold 570 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $61.53, for a total value of $35,072.10. Following the completion of the sale, the director now owns 5,610 shares in the company, valued at approximately $345,183.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $62.60, for a total transaction of $62,600.00. Following the completion of the sale, the vice president now owns 33,752 shares of the company’s stock, valued at approximately $2,112,875.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,524 shares of company stock valued at $1,285,332. 10.17% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC bought a new position in Cogent Communications in the 2nd quarter worth approximately $14,995,000. Millennium Management LLC boosted its stake in Cogent Communications by 93.1% in the third quarter. Millennium Management LLC now owns 426,167 shares of the technology company’s stock worth $23,481,000 after purchasing an additional 205,502 shares in the last quarter. Morgan Stanley boosted its stake in Cogent Communications by 414.7% in the second quarter. Morgan Stanley now owns 238,234 shares of the technology company’s stock worth $14,141,000 after purchasing an additional 191,946 shares in the last quarter. BlackRock Inc. boosted its stake in Cogent Communications by 1.6% in the second quarter. BlackRock Inc. now owns 6,826,740 shares of the technology company’s stock worth $405,235,000 after purchasing an additional 105,911 shares in the last quarter. Finally, Man Group plc boosted its stake in Cogent Communications by 17.9% in the second quarter. Man Group plc now owns 572,450 shares of the technology company’s stock worth $33,980,000 after purchasing an additional 87,092 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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