Cogent Communications Holdings, Inc. (NASDAQ:CCOI) had its target price increased by Royal Bank Of Canada from $45.00 to $48.00 in a research report released on Monday, August 7th, MarketBeat Ratings reports. The firm currently has an outperform rating on the technology company’s stock.
A number of other research analysts have also commented on the stock. BidaskClub lowered shares of Cogent Communications Holdings from a hold rating to a sell rating in a research note on Friday, June 23rd. Off Wall Street initiated coverage on shares of Cogent Communications Holdings in a research report on Monday, July 31st. They issued a sell rating and a $29.00 price target on the stock. Zacks Investment Research upgraded shares of Cogent Communications Holdings from a sell rating to a hold rating in a research report on Tuesday, May 9th. Cowen and Company lowered shares of Cogent Communications Holdings from an outperform rating to a market perform rating and set a $46.00 price target on the stock. in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank AG reiterated a buy rating and set a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Cogent Communications Holdings currently has an average rating of Hold and an average target price of $42.45.
Shares of Cogent Communications Holdings (CCOI) traded down 1.97% during midday trading on Monday, hitting $42.25. The company had a trading volume of 320,366 shares. The company has a 50-day moving average of $42.46 and a 200 day moving average of $41.76. Cogent Communications Holdings has a 12 month low of $34.23 and a 12 month high of $45.25. The firm has a market capitalization of $1.89 billion, a PE ratio of 120.71 and a beta of 0.74.
Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the Zacks’ 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 company had revenue of $119.80 million for the quarter, compared to analyst estimates of $120.23 million. During the same quarter in the prior year, the business earned $0.09 EPS. Cogent Communications Holdings’s revenue was up 9.0% compared to the same quarter last year. On average, analysts expect that Cogent Communications Holdings will post $0.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.46 per share. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.84 annualized dividend and a dividend yield of 4.36%. Cogent Communications Holdings’s payout ratio is presently 511.11%.
In related news, Director Steven D. Brooks sold 10,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.25, for a total value of $432,500.00. Following the sale, the director now owns 26,400 shares of the company’s stock, valued at $1,141,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $40.20, for a total transaction of $120,600.00. Following the completion of the sale, the vice president now directly owns 53,240 shares in the company, valued at approximately $2,140,248. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,933 shares of company stock worth $1,169,426. Insiders own 9.48% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC raised its position in Cogent Communications Holdings by 63.4% in the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after buying an additional 1,024 shares during the period. LS Investment Advisors LLC raised its position 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. raised its position in shares of 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 last quarter. Glen Harbor Capital Management LLC raised its position in shares of 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 last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Cogent Communications Holdings during the second quarter worth about $140,000. Hedge funds and other institutional investors own 94.29% of the company’s stock.
Cogent Communications Holdings Company Profile
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.
Receive News & Ratings for Cogent Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.