Cogent Communications (CCOI) to Release Earnings on Thursday

Cogent Communications (NASDAQ:CCOI - Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect Cogent Communications to post earnings of ($1.34) per share for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.59. The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $264.32 million. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. Cogent Communications's revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. On average, analysts expect Cogent Communications to post $-4 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cogent Communications Stock Performance

Shares of Cogent Communications stock traded down $1.32 during midday trading on Thursday, hitting $80.27. The company had a trading volume of 272,058 shares, compared to its average volume of 440,717. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 88.21 and a beta of 0.41. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 4.43. The company has a fifty day simple moving average of $75.86 and a 200 day simple moving average of $66.71. Cogent Communications has a 12-month low of $50.80 and a 12-month high of $86.00.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.985 dividend. This is a positive change from Cogent Communications's previous quarterly dividend of $0.98. This represents a $3.94 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Thursday, August 22nd. Cogent Communications's dividend payout ratio (DPR) is presently 432.97%.

Insider Transactions at Cogent Communications

In other news, VP John B. Chang sold 1,400 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.67, for a total transaction of $100,338.00. Following the sale, the vice president now owns 71,580 shares of the company's stock, valued at $5,130,138.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.67, for a total value of $100,338.00. Following the sale, the vice president now owns 71,580 shares of the company's stock, valued at approximately $5,130,138.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total transaction of $133,958.40. Following the completion of the sale, the executive now directly owns 50,982 shares in the company, valued at $3,557,014.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,870 shares of company stock valued at $4,716,057 in the last 90 days. 11.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CCOI shares. KeyCorp increased their price objective on shares of Cogent Communications from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Tuesday, August 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $74.00 price target on shares of Cogent Communications in a report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a report on Monday, August 12th. TD Cowen increased their price target on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Finally, Bank of America downgraded shares of Cogent Communications from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $75.00 to $65.00 in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $77.14.

About Cogent Communications

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.