Cogent Communications Holdings Inc (NASDAQ:CCOI) – Investment analysts at SunTrust Banks issued their FY2019 earnings per share estimates for shares of Cogent Communications in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst G. Miller forecasts that the technology company will post earnings per share of $1.01 for the year. SunTrust Banks has a “Hold” rating and a $43.00 price target on the stock.

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 Zacks’ consensus estimate of $0.14 by ($0.06). The business had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $123.60 million. Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. Cogent Communications’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS.

A number of other equities research analysts also recently commented on the company. BidaskClub downgraded Cogent Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Macquarie downgraded Cogent Communications from a “neutral” rating to an “underperform” rating in a research report on Friday, November 3rd. Jefferies Group lifted their price objective on Cogent Communications from $39.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Raymond James Financial reissued an “underperform” rating on shares of Cogent Communications in a research report on Friday, November 3rd. Finally, Citigroup downgraded Cogent Communications from a “neutral” rating to a “sell” rating and lowered their price target for the company from $43.00 to $39.00 in a research report on Thursday, November 2nd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Cogent Communications has an average rating of “Hold” and an average price target of $43.77.

Shares of Cogent Communications (NASDAQ CCOI) traded down $0.33 during trading hours on Monday, hitting $45.35. The stock had a trading volume of 382,200 shares, compared to its average volume of 333,701. The stock has a market capitalization of $2,084.06, a P/E ratio of 125.97, a P/E/G ratio of 11.83 and a beta of 0.58. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22. Cogent Communications has a twelve month low of $37.85 and a twelve month high of $54.85.

Institutional investors and hedge funds have recently modified their holdings of the business. Flinton Capital Management LLC lifted its stake in shares of Cogent Communications by 63.4% during the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,024 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Cogent Communications by 29.7% during the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after purchasing an additional 670 shares in the last quarter. Pacad Investment Ltd. acquired a new position in shares of Cogent Communications during the second quarter worth about $140,000. PNC Financial Services Group Inc. lifted its stake in shares of Cogent Communications by 1,919.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after purchasing an additional 3,589 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in shares of Cogent Communications by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock worth $167,000 after acquiring an additional 1,663 shares in the last quarter. Institutional investors own 95.63% of the company’s stock.

In other Cogent Communications news, VP Timothy G. Oneill sold 2,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $48.75, for a total transaction of $97,500.00. Following the transaction, the vice president now owns 39,052 shares in the company, valued at $1,903,785. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Henry W. Kilmer sold 3,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $44.54, for a total value of $133,620.00. Following the transaction, the vice president now owns 33,600 shares in the company, valued at approximately $1,496,544. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,866 shares of company stock valued at $734,703. 9.48% of the stock is owned by company insiders.

The company also recently declared a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Friday, November 17th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, November 16th. This is an increase from Cogent Communications’s previous quarterly dividend of $0.46. Cogent Communications’s payout ratio is 533.33%.

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Cogent Communications 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 (NASDAQ:CCOI)

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