Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Analysts at SunTrust Banks dropped their Q3 2017 EPS estimates for shares of Cogent Communications Holdings in a report released on Friday. SunTrust Banks analyst G. Miller now expects that the technology company will post earnings per share of $0.16 for the quarter, down from their prior estimate of $0.18. SunTrust Banks also issued estimates for Cogent Communications Holdings’ Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.51 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.23 EPS and FY2018 earnings at $0.79 EPS.
Other equities research analysts also recently issued reports about the stock. Citigroup Inc. boosted their price objective on shares of Cogent Communications Holdings from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 target price on shares of Cogent Communications Holdings in a research note on Thursday, May 25th. BidaskClub upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Cowen and Company restated a “hold” rating and issued a $46.00 target price on shares of Cogent Communications Holdings in a research note on Friday, August 4th. Finally, Off Wall Street started coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Cogent Communications Holdings currently has a consensus rating of “Hold” and an average target price of $42.67.
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Cogent Communications Holdings (CCOI) opened at 43.20 on Monday. The stock has a market cap of $1.93 billion, a PE ratio of 127.06 and a beta of 0.74. The firm has a 50-day moving average of $41.36 and a 200 day moving average of $41.64. Cogent Communications Holdings has a 12 month low of $34.23 and a 12 month high of $45.25.
Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The business had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. During the same period in the prior year, the business earned $0.09 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock worth $111,000 after buying an additional 1,095 shares during the period. Sei Investments Co. boosted its stake in Cogent Communications Holdings by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after buying an additional 670 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock worth $122,000 after buying an additional 756 shares during the period. Elkfork Partners LLC boosted its stake in Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock worth $148,000 after buying an additional 918 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in Cogent Communications Holdings during the first quarter worth $155,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.
In other Cogent Communications Holdings news, Director Steven D. Brooks sold 10,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $43.25, for a total transaction of $432,500.00. Following the sale, the director now directly owns 26,400 shares of the company’s stock, valued at $1,141,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $40.20, for a total transaction of $120,600.00. Following the sale, the vice president now directly owns 53,240 shares in the company, valued at $2,140,248. The disclosure for this sale can be found here. Insiders have sold 27,433 shares of company stock worth $1,147,646 over the last three months. 9.48% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.26%. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 16th. Cogent Communications Holdings’s dividend payout ratio is 488.89%.
About Cogent Communications Holdings
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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