1 week Ago By ABMN Staff
Shares of Cogent Communications Holdings, Inc. ( NASDAQ:CCOI – Get Free Report ) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat.com reports.
One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $80.25.
A number of equities analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on Cogent Communications from $62.00 to $71.
00 and gave the company a “neutral” rating in a research note on Friday, October 4th. UBS Group began coverage on Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.
00 target price on the stock. Read Our Latest Stock Analysis on Cogent Communications Cogent Communications Price Performance Cogent Communications ( NASDAQ:CCOI – Get Free Report ) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.
33) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.01.
The firm had revenue of $257.20 million for the quarter, compared to analyst estimates of $258.69 million.
Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%.
The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.
13) earnings per share. Sell-side analysts anticipate that Cogent Communications will post -4.55 earnings per share for the current fiscal year.
Cogent Communications Increases Dividend The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a $0.995 dividend.
This represents a $3.98 dividend on an annualized basis and a yield of 5.26%.
The ex-dividend date was Friday, November 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99.
Cogent Communications’s dividend payout ratio is 510.26%. Insider Activity In other news, Director Blake Bath sold 6,220 shares of the stock in a transaction on Thursday, November 21st.
The stock was sold at an average price of $83.69, for a total transaction of $520,551.80.
Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $836,900. This represents a 38.35 % decrease in their position.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, Director Sheryl Lynn Kennedy sold 1,350 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.
58, for a total value of $108,783.00. Following the completion of the sale, the director now owns 10,318 shares in the company, valued at $831,424.
44. This represents a 11.57 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Insiders sold a total of 24,136 shares of company stock valued at $1,939,749 in the last ninety days. 11.
40% of the stock is currently owned by insiders. Institutional Investors Weigh In On Cogent Communications Hedge funds and other institutional investors have recently bought and sold shares of the business. Ipswich Investment Management Co.
Inc. increased its position in shares of Cogent Communications by 0.5% during the third quarter.
Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock valued at $3,119,000 after buying an additional 185 shares during the period.
Hexagon Capital Partners LLC increased its holdings in Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after acquiring an additional 226 shares during the period.
Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Cogent Communications by 5.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock worth $378,000 after purchasing an additional 262 shares in the last quarter.
Blue Trust Inc. boosted its holdings in Cogent Communications by 204.5% in the 3rd quarter.
Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares during the period. Finally, Capstone Triton Financial Group LLC boosted its holdings in Cogent Communications by 3.
1% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 10,401 shares of the technology company’s stock valued at $790,000 after purchasing an additional 313 shares during the period. Institutional investors own 92.
45% of the company’s stock. About Cogent Communications ( Get Free Report 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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