Cogent Communications Group’s (CCOI) Outperform Rating Reaffirmed at William Blair
Cogent Communications Group Inc. (NASDAQ:CCOI)‘s stock had its “outperform” rating reiterated by William Blair in a research note issued to investors on Friday.
CCOI has been the topic of several other research reports. Zacks Investment Research lowered Cogent Communications Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. JPMorgan Chase & Co. assumed coverage on Cogent Communications Group in a research note on Monday, September 26th. They issued a “neutral” rating on the stock. Citigroup Inc. boosted their price target on Cogent Communications Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Raymond James Financial Inc. lowered Cogent Communications Group from an “outperform” rating to a “market perform” rating in a research note on Monday, August 8th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $43.00 price target on shares of Cogent Communications Group in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $42.70.
Shares of Cogent Communications Group (NASDAQ:CCOI) traded up 0.09% on Friday, reaching $34.97. The company had a trading volume of 17,946 shares. Cogent Communications Group has a one year low of $29.20 and a one year high of $43.61. The company has a 50-day moving average price of $35.94 and a 200-day moving average price of $38.66. The firm has a market cap of $1.56 billion, a P/E ratio of 118.14 and a beta of 0.98.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/14/cogent-communications-groups-ccoi-outperform-rating-reaffirmed-at-william-blair.html
Cogent Communications Group (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The business had revenue of $110 million for the quarter, compared to analyst estimates of $110.88 million. Cogent Communications Group had a negative return on equity of 89.73% and a net margin of 3.10%. Cogent Communications Group’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, analysts expect that Cogent Communications Group will post $0.40 earnings per share for the current fiscal year.
In related news, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $42.64, for a total value of $42,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tim Weingarten sold 2,822 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $35.57, for a total value of $100,378.54. Following the completion of the sale, the director now owns 21,479 shares of the company’s stock, valued at approximately $764,008.03. The disclosure for this sale can be found here. 9.17% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Cogent Communications Group by 115.5% in the first quarter. BlackRock Inc. now owns 3,205 shares of the company’s stock worth $126,000 after buying an additional 1,718 shares in the last quarter. US Bancorp DE increased its stake in Cogent Communications Group by 2.8% in the second quarter. US Bancorp DE now owns 3,427 shares of the company’s stock worth $137,000 after buying an additional 93 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Cogent Communications Group by 113.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,546 shares of the company’s stock worth $142,000 after buying an additional 1,886 shares in the last quarter. Riverhead Capital Management LLC bought a new stake in Cogent Communications Group during the first quarter worth approximately $165,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Cogent Communications Group by 306.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,025 shares of the company’s stock worth $201,000 after buying an additional 3,790 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.
Cogent Communications Group Company Profile
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
Receive News & Ratings for Cogent Communications Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.