Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) - Research analysts at Zacks Research boosted their FY2024 EPS estimates for Cogent Communications in a report released on Monday, February 24th. Zacks Research analyst R. Department now expects that the technology company will earn ($4.61) per share for the year, up from their prior forecast of ($4.65). The consensus estimate for Cogent Communications' current full-year earnings is ($4.55) per share. Zacks Research also issued estimates for Cogent Communications' Q4 2024 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.11) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($3.88) EPS, Q1 2026 earnings at ($0.34) EPS, Q2 2026 earnings at ($0.38) EPS, Q3 2026 earnings at ($0.11) EPS, Q4 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.92) EPS.
Separately, UBS Group assumed coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a "buy" rating and a $102.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have issued 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $80.25.
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Cogent Communications Trading Up 0.8 %
Shares of CCOI traded up $0.61 during midday trading on Thursday, hitting $73.07. The stock had a trading volume of 728,154 shares, compared to its average volume of 350,099. Cogent Communications has a 1 year low of $50.80 and a 1 year high of $86.76. The firm has a market cap of $3.58 billion, a PE ratio of 93.68 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The stock's 50 day moving average is $76.64 and its 200 day moving average is $77.09.
Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.22) by $0.31. The company had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its holdings in Cogent Communications by 85.7% during the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company's stock worth $1,284,000 after acquiring an additional 7,803 shares in the last quarter. Consolidated Planning Corp bought a new stake in shares of Cogent Communications in the 3rd quarter valued at about $630,000. PEAK6 Investments LLC bought a new stake in shares of Cogent Communications in the 3rd quarter valued at about $1,720,000. Citigroup Inc. boosted its holdings in shares of Cogent Communications by 56.8% in the 3rd quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock valued at $4,297,000 after buying an additional 20,510 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Cogent Communications by 136.5% in the 3rd quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company's stock valued at $11,025,000 after buying an additional 83,816 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $81.42, for a total transaction of $156,326.40. Following the transaction, the executive now directly owns 51,462 shares in the company, valued at $4,190,036.04. This represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $75.61, for a total transaction of $362,928.00. Following the transaction, the vice president now owns 33,800 shares in the company, valued at approximately $2,555,618. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,440 shares of company stock worth $1,057,910 in the last three months. Corporate insiders own 11.40% of the company's stock.
Cogent Communications Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a yield of 5.50%. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications's dividend payout ratio is presently 510.26%.
Cogent Communications Company Profile
(
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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.
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