Canaccord Genuity Increases Cogent Communications Group Price Target to $46.00 (CCOI)
Equities research analysts at Canaccord Genuity raised their price target on shares of Cogent Communications Group (NASDAQ:CCOI) from $39.00 to $46.00 in a research note issued to investors on Friday, American Banking and Market News reports. Canaccord Genuity’s price target suggests a potential upside of 14.34% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Davidson raised their price target on shares of Cogent Communications Group from $35.00 to $42.00 in a research note on Monday, January 13th. Analysts at Jefferies Group initiated coverage on shares of Cogent Communications Group in a research note on Thursday, December 19th. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.00.
Shares of Cogent Communications Group (NASDAQ:CCOI) traded down 0.10% on Friday, hitting $40.23. The stock had a trading volume of 611,996 shares. Cogent Communications Group has a 52-week low of $24.61 and a 52-week high of $43.50. The stock’s 50-day moving average is $41.39 and its 200-day moving average is $36.32. The company has a market cap of $1.856 billion and a price-to-earnings ratio of 485.18.
Cogent Communications Group (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $1.09. The company had revenue of $89.86 million for the quarter, compared to the consensus estimate of $91.40 million. Analysts expect that Cogent Communications Group will post $0.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, March 27th. Investors of record on Friday, March 7th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, March 5th. This is an increase from Cogent Communications Group’s previous quarterly dividend of $0.15.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.