Cogent Communications Holdings, Inc. (CCOI) to Release Quarterly Earnings on Wednesday
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) is set to issue its quarterly earnings data on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.14 per share for the quarter.
Cogent Communications Holdings (NASDAQ:CCOI) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (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 company had revenue of $119.80 million for the quarter, compared to the consensus estimate of $120.23 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts expect Cogent Communications Holdings to post $0.47 EPS for the current fiscal year and $0.8 EPS for the next fiscal year.
Shares of Cogent Communications Holdings, Inc. (CCOI) opened at 49.95 on Wednesday. The firm’s 50-day moving average is $48.51 and its 200 day moving average is $43.72. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 142.71 and a beta of 0.66. Cogent Communications Holdings, Inc. has a 12 month low of $34.45 and a 12 month high of $51.85.
A number of brokerages have issued reports on CCOI. Wells Fargo & Company lowered shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $46.00 to $48.00 in a report on Monday, October 9th. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. KeyCorp reaffirmed a “hold” rating on shares of Cogent Communications Holdings in a report on Wednesday, October 11th. Deutsche Bank AG raised their target price on shares of Cogent Communications Holdings from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $48.00 target price on shares of Cogent Communications Holdings in a report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $44.23.
In related news, VP Timothy G. Oneill sold 2,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $48.75, for a total value of $97,500.00. Following the completion of the sale, the vice president now directly owns 39,052 shares in the company, valued at $1,903,785. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven D. Brooks sold 10,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $43.25, for a total value of $432,500.00. Following the completion of the sale, the director now owns 26,400 shares of the company’s stock, valued at $1,141,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,466 shares of company stock valued at $1,422,354. 9.48% of the stock is currently owned by insiders.
About Cogent Communications Holdings
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.
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