Cogent Communications (NASDAQ:CCOI) Issues Quarterly Earnings Results

Cogent Communications (NASDAQ:CCOI - Get Free Report) issued its quarterly earnings data on Thursday. The technology company reported ($0.91) earnings per share for the quarter, beating analysts' consensus estimates of ($1.22) by $0.31, Zacks reports. The firm had revenue of $252.29 million during the quarter, compared to analyst estimates of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%.

Cogent Communications Stock Down 2.4 %

NASDAQ CCOI traded down $1.75 on Monday, hitting $71.32. The stock had a trading volume of 710,099 shares, compared to its average volume of 359,097. The business's fifty day moving average price is $76.56 and its 200 day moving average price is $77.10. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications has a 52-week low of $50.80 and a 52-week high of $86.76. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 91.44 and a beta of 0.40.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $1.005 dividend. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a yield of 5.64%. Cogent Communications's payout ratio is -93.49%.

Insiders Place Their Bets

In other news, CRO James Bubeck sold 1,920 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $76.60, for a total transaction of $147,072.00. Following the sale, the executive now directly owns 49,542 shares of the company's stock, valued at $3,794,917.20. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total transaction of $103,968.00. Following the sale, the director now directly owns 10,147 shares in the company, valued at $740,325.12. This trade represents a 12.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,145 shares of company stock valued at $613,968. 11.40% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

CCOI has been the subject of several recent research reports. UBS Group initiated coverage on Cogent Communications in a research report on Thursday, November 14th. They issued a "buy" rating and a $102.00 price target for the company. StockNews.com raised shares of Cogent Communications to a "sell" rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $80.25.

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.