Cogent Communications Group Receives Average Rating of “Buy” from Brokerages (NASDAQ:CCOI)
Shares of Cogent Communications Group (NASDAQ:CCOI) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the company, Analyst Ratings Network reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $40.00.
Shares of Cogent Communications Group (NASDAQ:CCOI) traded up 0.23% during mid-day trading on Tuesday, hitting $33.295. The stock had a trading volume of 81,380 shares. Cogent Communications Group has a 52 week low of $30.25 and a 52 week high of $43.50. The stock’s 50-day moving average is $34.38 and its 200-day moving average is $36.23. The company has a market cap of $1.528 billion and a price-to-earnings ratio of 27.64.
Cogent Communications Group (NASDAQ:CCOI) last released its earnings data on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.03 earnings per share. Cogent Communications Group’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Cogent Communications Group will post $0.19 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 3.61%. 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 sold 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Cogent Communications Group in a research note on Monday. They now have a $40.00 price target on the stock, down previously from $45.00.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
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