Analysts expect Cogent Communications Holdings Inc (NASDAQ:CCOI) to report sales of $138.27 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Cogent Communications’ earnings, with the highest sales estimate coming in at $138.99 million and the lowest estimate coming in at $136.45 million. Cogent Communications reported sales of $132.05 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The firm is expected to report its next quarterly earnings report on Thursday, February 20th.
According to Zacks, analysts expect that Cogent Communications will report full year sales of $544.14 million for the current fiscal year, with estimates ranging from $542.32 million to $544.86 million. For the next financial year, analysts expect that the company will post sales of $576.77 million, with estimates ranging from $570.18 million to $582.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.12. The firm had revenue of $136.94 million during the quarter, compared to analysts’ expectations of $136.50 million. Cogent Communications had a net margin of 6.91% and a negative return on equity of 21.84%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share.
In other Cogent Communications news, VP Timothy G. Oneill sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $63.29, for a total value of $158,225.00. Following the sale, the vice president now owns 34,752 shares of the company’s stock, valued at $2,199,454.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Slessor sold 14,835 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $18.03, for a total transaction of $267,475.05. Insiders have sold a total of 28,580 shares of company stock valued at $1,103,678 over the last 90 days. 10.17% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in Cogent Communications by 60.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,320 shares of the technology company’s stock valued at $1,028,000 after buying an additional 6,500 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Cogent Communications by 1.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,500 shares of the technology company’s stock valued at $979,000 after acquiring an additional 300 shares in the last quarter. Arbor Wealth Management LLC purchased a new stake in shares of Cogent Communications in the second quarter valued at $59,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Cogent Communications by 163.6% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,476 shares of the technology company’s stock valued at $88,000 after acquiring an additional 916 shares during the last quarter. Finally, W.E. Donoghue & Co. LLC acquired a new stake in shares of Cogent Communications during the second quarter valued at $655,000. Hedge funds and other institutional investors own 85.18% of the company’s stock.
CCOI traded down $0.03 on Thursday, hitting $61.80. 157,843 shares of the company were exchanged, compared to its average volume of 258,806. Cogent Communications has a fifty-two week low of $42.40 and a fifty-two week high of $64.91. The firm has a market capitalization of $2.94 billion, a P/E ratio of 98.10, a price-to-earnings-growth ratio of 9.05 and a beta of 0.57. The business’s fifty day moving average is $60.08 and its 200 day moving average is $59.30.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 22nd will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 4.14%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, November 21st. Cogent Communications’s dividend payout ratio is presently 406.35%.
About Cogent Communications
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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