Cogent Communications Group Sees Unusually-High Trading Volume Following Dividend Announcement (CCOI)
Shares of Cogent Communications Group (NASDAQ:CCOI) saw unusually-strong trading volume on Thursday after the company announced a dividend, Analyst Ratings News reports. Approximately 1,242,195 shares changed hands during mid-day trading, an increase of 217% from the previous session’s volume of 391,291 shares.The stock last traded at $33.30 and had previously closed at $34.97.
The newly announced dividend is scheduled for Friday, September 19th. Investors of record on Friday, August 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%.
The stock’s 50-day moving average is $34.49 and its 200-day moving average is $36.35. The company has a market cap of $1.533 billion and a P/E ratio of 29.14.
Cogent Communications Group (NASDAQ:CCOI) last announced its earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.06 by $0.03. The company had revenue of $94.60 million for the quarter, compared to the consensus estimate of $95.60 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts predict that Cogent Communications Group will post $0.25 earnings per share for the current fiscal year.
In other Cogent Communications Group news, VP Henry W. Kilmer unloaded 1,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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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