Cogent Communications (CCOI) to Release Earnings on Thursday

Cogent Communications (NASDAQ:CCOI) will release its earnings data before the market opens on Thursday, August 8th. Analysts expect Cogent Communications to post earnings of ($1.02) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, May 9th. The technology company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.19). The company had revenue of $266.17 million during the quarter, compared to the consensus estimate of $274.13 million. Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. On average, analysts expect Cogent Communications to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cogent Communications Price Performance

CCOI stock opened at $67.35 on Wednesday. The stock has a market cap of $3.30 billion, a PE ratio of 2.67 and a beta of 0.41. The stock has a 50-day moving average price of $59.44 and a two-hundred day moving average price of $64.93. Cogent Communications has a 1 year low of $50.80 and a 1 year high of $86.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.80.

Insiders Place Their Bets

In related news, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $51.78, for a total value of $3,106,800.00. Following the transaction, the chief executive officer now owns 4,433,038 shares of the company’s stock, valued at $229,542,707.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Lewis H. Ferguson sold 2,000 shares of Cogent Communications stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $58.90, for a total value of $117,800.00. Following the transaction, the director now owns 17,623 shares in the company, valued at $1,037,994.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $51.78, for a total transaction of $3,106,800.00. Following the sale, the chief executive officer now owns 4,433,038 shares of the company’s stock, valued at $229,542,707.64. The disclosure for this sale can be found here. Insiders sold a total of 178,440 shares of company stock valued at $9,828,016 in the last quarter. Corporate insiders own 11.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCOI. The Goldman Sachs Group initiated coverage on Cogent Communications in a research report on Monday, July 1st. They issued a “neutral” rating and a $56.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Cogent Communications from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. KeyCorp lowered their target price on Cogent Communications from $88.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, May 10th. TD Cowen reduced their price objective on shares of Cogent Communications from $84.00 to $78.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 price objective on shares of Cogent Communications in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.57.

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.