Brokerages predict that Cogent Communications Holdings Inc (NASDAQ:CCOI) will post sales of $126.21 million for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Cogent Communications’ earnings. The highest sales estimate is $127.01 million and the lowest is $125.70 million. Cogent Communications reported sales of $115.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The business is expected to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Cogent Communications will report full year sales of $126.21 million for the current year, with estimates ranging from $485.60 million to $486.96 million. For the next fiscal year, analysts anticipate that the business will report sales of $532.23 million per share, with estimates ranging from $527.40 million to $536.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Cogent Communications.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.06). The firm had revenue of $123.00 million for the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share.

A number of brokerages have issued reports on CCOI. Citigroup downgraded shares of Cogent Communications from a “neutral” rating to a “sell” rating and reduced their price target for the company from $43.00 to $39.00 in a report on Thursday, November 2nd. Raymond James Financial reiterated an “underperform” rating on shares of Cogent Communications in a report on Friday, November 3rd. Jefferies Group lifted their price target on shares of Cogent Communications from $39.00 to $43.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Wells Fargo & Company downgraded shares of Cogent Communications from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $46.00 to $48.00 in a report on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $43.77.

In other Cogent Communications news, Director Tim Weingarten sold 1,616 shares of Cogent Communications stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $45.97, for a total value of $74,287.52. Following the completion of the transaction, the director now directly owns 18,686 shares of the company’s stock, valued at approximately $858,995.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert N. Beury, Jr. sold 3,000 shares of Cogent Communications stock in a transaction on Friday, December 1st. The stock was sold at an average price of $46.51, for a total transaction of $139,530.00. Following the completion of the transaction, the vice president now directly owns 47,240 shares of the company’s stock, valued at $2,197,132.40. The disclosure for this sale can be found here. Insiders sold a total of 10,866 shares of company stock valued at $509,463 over the last three months. Corporate insiders own 9.48% of the company’s stock.

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in shares of Cogent Communications by 71.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 299,065 shares of the technology company’s stock worth $11,992,000 after purchasing an additional 124,594 shares during the period. Aperio Group LLC boosted its stake in shares of Cogent Communications by 1.1% during the 2nd quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock worth $368,000 after purchasing an additional 99 shares during the period. BlackRock Inc. boosted its stake in shares of Cogent Communications by 3.5% during the 2nd quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock worth $205,670,000 after purchasing an additional 172,987 shares during the period. Boston Financial Mangement LLC boosted its stake in shares of Cogent Communications by 6.2% during the 3rd quarter. Boston Financial Mangement LLC now owns 359,770 shares of the technology company’s stock worth $17,593,000 after purchasing an additional 21,123 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cogent Communications by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,133 shares of the technology company’s stock worth $59,513,000 after purchasing an additional 150,328 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

Shares of Cogent Communications (NASDAQ:CCOI) opened at $44.70 on Wednesday. The company has a market cap of $2,086.36, a price-to-earnings ratio of 126.11, a PEG ratio of 11.84 and a beta of 0.58. Cogent Communications has a 52-week low of $36.55 and a 52-week high of $54.85. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Friday, November 17th were paid a $0.48 dividend. This is a boost from Cogent Communications’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Thursday, November 16th. Cogent Communications’s dividend payout ratio (DPR) is presently 533.33%.

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About Cogent Communications

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 (NASDAQ:CCOI)

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