Cogent Communications Group Inc. Declares Quarterly Dividend of $0.16 (CCOI)
Cogent Communications Group (NASDAQ:CCOI) announced a quarterly dividend on Friday, February 21st, AnalystRatingsNetwork.com reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.16 per share on Thursday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Cogent Communications Group’s previous quarterly dividend of $0.15.
A number of analysts have recently weighed in on CCOI shares. Analysts at Canaccord Genuity raised their price target on shares of Cogent Communications Group from $39.00 to $46.00 in a research note on Friday. On the ratings front, 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. Finally, 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.00.
Cogent Communications Group (NASDAQ:CCOI) traded down 0.10% on Friday, hitting $40.23. 611,996 shares of the company’s stock traded hands. Cogent Communications Group has a 1-year low of $24.61 and a 1-year high of $43.50. The stock has a 50-day moving average of $41.38 and a 200-day moving average of $36.24. The company has a market cap of $1.856 billion and a P/E ratio of 485.18.
Cogent Communications Group (NASDAQ:CCOI) last released its earnings data on Thursday, February 20th. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters 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.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
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