Brokerages Set Cogent Communications Holdings Inc (CCOI) PT at $50.00

Cogent Communications Holdings Inc (NASDAQ:CCOI) has been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $50.00.

CCOI has been the subject of several research analyst reports. ValuEngine upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada raised their price objective on shares of Cogent Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, February 25th. Zacks Investment Research lowered shares of Cogent Communications from a “buy” rating to a “sell” rating in a report on Wednesday, February 20th. BidaskClub lowered shares of Cogent Communications from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Finally, Deutsche Bank upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Monday, December 17th.

NASDAQ CCOI traded up $0.30 during trading on Friday, hitting $51.33. 10,823 shares of the company’s stock traded hands, compared to its average volume of 264,838. Cogent Communications has a 12-month low of $41.60 and a 12-month high of $57.65. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 81.41, a PEG ratio of 7.09 and a beta of 0.69.



Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, February 21st. The technology company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The firm had revenue of $132.05 million for the quarter, compared to analysts’ expectations of $132.63 million. Cogent Communications had a negative return on equity of 23.57% and a net margin of 5.51%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Equities analysts expect that Cogent Communications will post 0.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a $0.58 dividend. The ex-dividend date is Thursday, March 7th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.52%. Cogent Communications’s dividend payout ratio (DPR) is 368.25%.

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $48.92, for a total transaction of $117,408.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lewis H. Ferguson sold 580 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $48.60, for a total transaction of $28,188.00. Following the transaction, the director now directly owns 2,120 shares of the company’s stock, valued at approximately $103,032. The disclosure for this sale can be found here. Insiders sold 15,150 shares of company stock valued at $748,704 over the last 90 days. 10.21% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Slow Capital Inc. increased its stake in shares of Cogent Communications by 1.8% during the fourth quarter. Slow Capital Inc. now owns 13,619 shares of the technology company’s stock valued at $616,000 after purchasing an additional 239 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Cogent Communications by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 14,017 shares of the technology company’s stock valued at $633,000 after purchasing an additional 280 shares in the last quarter. Piedmont Investment Advisors Inc. increased its stake in shares of Cogent Communications by 3.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 9,954 shares of the technology company’s stock valued at $450,000 after purchasing an additional 324 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Cogent Communications by 7.0% during the fourth quarter. GSA Capital Partners LLP now owns 5,993 shares of the technology company’s stock valued at $271,000 after acquiring an additional 393 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cogent Communications by 16.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,895 shares of the technology company’s stock valued at $131,000 after acquiring an additional 408 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

About Cogent Communications

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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