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Cogent Communications Group (NASDAQ:CCOI)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research note issued on Monday. They currently have a $40.00 target price on the stock, down from their previous target price of $45.00. Citigroup Inc.’s target price suggests a potential upside of 18.76% from the company’s current price.

Cogent Communications Group (NASDAQ:CCOI) traded down 1.63% during mid-day trading on Monday, hitting $33.13. 314,835 shares of the company’s stock traded hands. Cogent Communications Group has a 52 week low of $30.25 and a 52 week high of $43.50. The stock has a 50-day moving average of $34.45 and a 200-day moving average of $36.33. The company has a market cap of $1.521 billion and a P/E ratio of 28.02.

Cogent Communications Group (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that Cogent Communications Group will post $0.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which 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 3.56%. The ex-dividend date of this dividend is Wednesday, August 27th. This is an increase from Cogent Communications Group’s previous quarterly dividend of $0.17.

In other Cogent Communications Group news, VP Henry W. Kilmer unloaded 1,000 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The sale 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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