Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Equities researchers at SunTrust Banks dropped their Q3 2017 earnings estimates for Cogent Communications Holdings in a research report issued to clients and investors on Friday. SunTrust Banks analyst G. Miller now forecasts that the technology company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.18. SunTrust Banks also issued estimates for Cogent Communications Holdings’ Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.51 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.23 EPS and FY2018 earnings at $0.79 EPS.

Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research raised shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 price target on shares of Cogent Communications Holdings in a research note on Thursday, May 25th. Cowen and Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Off Wall Street initiated coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They set a “sell” rating and a $29.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Cogent Communications Holdings has a consensus rating of “Hold” and a consensus target price of $42.42.

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Cogent Communications Holdings (CCOI) opened at 43.85 on Monday. Cogent Communications Holdings has a 52 week low of $34.23 and a 52 week high of $45.25. The firm’s 50-day moving average is $41.28 and its 200-day moving average is $41.63. The stock has a market capitalization of $1.96 billion, a P/E ratio of 128.97 and a beta of 0.74.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $119.80 million for the quarter, compared to analyst estimates of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 4.20%. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 488.89%.

In related news, VP Henry W. Kilmer sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $40.80, for a total value of $122,400.00. Following the sale, the vice president now directly owns 39,600 shares of the company’s stock, valued at $1,615,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $41.95, for a total transaction of $41,950.00. Following the completion of the sale, the vice president now directly owns 42,052 shares in the company, valued at $1,764,081.40. The disclosure for this sale can be found here. Insiders sold 15,183 shares of company stock worth $617,248 over the last three months. Corporate insiders own 9.48% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock valued at $111,000 after buying an additional 1,095 shares in the last quarter. Sei Investments Co. boosted its stake in Cogent Communications Holdings by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after buying an additional 670 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock valued at $122,000 after buying an additional 756 shares in the last quarter. Elkfork Partners LLC boosted its stake in Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock valued at $148,000 after buying an additional 918 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Cogent Communications Holdings during the first quarter valued at about $155,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Cogent Communications Holdings 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.

Earnings History and Estimates for Cogent Communications Holdings (NASDAQ:CCOI)

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