Cogent Communications Group, Inc. Announces Quarterly Dividend of $0.17 (CCOI)
Cogent Communications Group (NASDAQ:CCOI) announced a quarterly dividend on Thursday, May 8th, Analyst Ratings News reports. Investors of record on Friday, May 30th will be paid a dividend of 0.17 per share on Wednesday, June 18th. This represents a $0.68 annualized dividend and a dividend yield of 1.87%.
Several analysts have recently commented on the stock. Analysts at Oppenheimer upgraded shares of Cogent Communications Group from a “market perform” rating to an “outperform” rating in a research note on Friday, April 11th. They now have a $42.00 price target on the stock. On a related note, analysts at Davidson upgraded shares of Cogent Communications Group to a “buy” rating in a research note on Monday, March 3rd. Finally, analysts at DA Davidson upgraded shares of Cogent Communications Group from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th. They now have a $45.00 price target on the stock, up previously from $42.00. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Cogent Communications Group presently has an average rating of “Buy” and a consensus target price of $40.00.
Shares of Cogent Communications Group (NASDAQ:CCOI) opened at 36.36 on Thursday. Cogent Communications Group has a 52-week low of $25.90 and a 52-week high of $43.50. The stock’s 50-day moving average is $34.95 and its 200-day moving average is $37.61. The company has a market cap of $1.683 billion and a price-to-earnings ratio of 29.71.
Cogent Communications Group (NASDAQ:CCOI) last posted its quarterly earnings results 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 $0.36 EPS for the current fiscal year.
In other Cogent Communications Group news, VP Henry Kilmer sold 1,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $34.43, for a total transaction of $34,430.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
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