Wall Street analysts forecast that Cogent Communications Holdings, Inc. (NASDAQ:CCOI) will post sales of $123.56 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Cogent Communications Holdings’ earnings. The highest sales estimate is $124.10 million and the lowest is $122.97 million. Cogent Communications Holdings reported sales of $113.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, November 2nd.

On average, analysts expect that Cogent Communications Holdings will report full-year sales of $123.56 million for the current year, with estimates ranging from $485.93 million to $488.40 million. For the next fiscal year, analysts anticipate that the firm will report sales of $536.58 million per share, with estimates ranging from $533.16 million to $539.21 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cogent Communications Holdings.

Cogent Communications Holdings (NASDAQ:CCOI) last issued 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). The firm had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. Cogent Communications Holdings’s quarterly 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.

CCOI has been the subject of a number of analyst reports. Off Wall Street initiated coverage on shares of Cogent Communications Holdings in a research report on Monday, July 31st. They issued a “sell” rating and a $29.00 price objective for the company. BidaskClub upgraded shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and issued a $48.00 price objective on shares of Cogent Communications Holdings in a research report on Monday, September 18th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $44.23.

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Cogent Communications Holdings (NASDAQ:CCOI) opened at 52.70 on Friday. The stock has a 50 day moving average of $48.64 and a 200 day moving average of $43.77. Cogent Communications Holdings has a 12 month low of $34.45 and a 12 month high of $52.75. The firm has a market capitalization of $2.36 billion, a PE ratio of 150.57 and a beta of 0.66.

In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.95, for a total transaction of $41,950.00. Following the transaction, the vice president now directly owns 42,052 shares of the company’s stock, valued at $1,764,081.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Raymond B. Kummer sold 2,000 shares of Cogent Communications Holdings stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $45.78, for a total transaction of $91,560.00. Following the transaction, the vice president now directly owns 59,140 shares in the company, valued at $2,707,429.20. The disclosure for this sale can be found here. Insiders sold 31,466 shares of company stock worth $1,422,354 over the last ninety days. 9.48% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of CCOI. BlackRock Inc. raised its stake in shares of Cogent Communications Holdings by 125,208.8% during the first quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock worth $213,356,000 after acquiring an additional 4,952,008 shares in the last quarter. Copeland Capital Management LLC purchased a new position in shares of Cogent Communications Holdings during the second quarter worth approximately $10,759,000. First Trust Advisors LP raised its stake in shares of Cogent Communications Holdings by 23.0% during the second quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock worth $56,685,000 after acquiring an additional 264,597 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Cogent Communications Holdings by 13.5% during the second quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock worth $82,550,000 after acquiring an additional 245,100 shares in the last quarter. Finally, River Road Asset Management LLC purchased a new position in shares of Cogent Communications Holdings during the second quarter worth approximately $8,800,000. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

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

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