Cogent Communications Group Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:CCOI)
Shares of Cogent Communications Group (NASDAQ:CCOI) have earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, American Banking News reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $40.00.
Shares of Cogent Communications Group (NASDAQ:CCOI) opened at 32.66 on Tuesday. Cogent Communications Group has a one year low of $30.25 and a one year high of $43.50. The stock has a 50-day moving average of $34.28 and a 200-day moving average of $36.02. The company has a market cap of $1.499 billion and a price-to-earnings ratio of 27.26.
Cogent Communications Group (NASDAQ:CCOI) last issued its quarterly earnings data 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 $0.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Investors of record on Friday, August 29th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. The ex-dividend date 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 stock was 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 Securities & Exchange Commission, which is available at this link.
Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Cogent Communications Group in a research note on Monday, August 11th. 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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