Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Analysts at William Blair lowered their Q4 2017 EPS estimates for shares of Cogent Communications Holdings in a research report issued to clients and investors on Thursday. William Blair analyst J. Breen now forecasts that the technology company will post earnings of $0.10 per share for the quarter, down from their prior estimate of $0.11. William Blair also issued estimates for Cogent Communications Holdings’ FY2018 earnings at $0.56 EPS.

A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Zacks Investment Research raised shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of Cogent Communications Holdings in a report 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 report 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 report on Monday, July 31st. They issued a “sell” rating and a $29.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average 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. The stock has a 50 day moving average price of $41.28 and a 200 day moving average price of $41.63. Cogent Communications Holdings has a 52-week low of $34.23 and a 52-week high of $45.25. The firm has a market cap 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 earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by $0.02. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The firm had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. During the same period in the previous year, the company posted $0.09 EPS. Cogent Communications Holdings’s revenue for the quarter was up 9.0% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in shares of 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 during the period. Sei Investments Co. raised its position in shares of 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 during the period. Glen Harbor Capital Management LLC raised its position in shares of 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 during the period. Elkfork Partners LLC raised its position in shares of 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 during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Cogent Communications Holdings during the first quarter valued at about $155,000. Institutional investors own 93.99% of the company’s stock.

In related news, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $40.25, for a total value of $40,250.00. Following the completion of the transaction, the vice president now directly owns 43,052 shares in the company, valued at $1,732,843. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $40.20, for a total transaction of $120,600.00. Following the completion of the transaction, the vice president now owns 53,240 shares of the company’s stock, valued at $2,140,248. The disclosure for this sale can be found here. Insiders sold a total of 15,183 shares of company stock valued at $617,248 over the last quarter. 9.48% of the stock is owned by company insiders.

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

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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