Cogent Communications Holdings Inc (CCOI) Expected to Post Quarterly Sales of $126.21 Million

Brokerages expect that Cogent Communications Holdings Inc (NASDAQ:CCOI) will report sales of $126.21 million for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Cogent Communications’ earnings, with the lowest sales estimate coming in at $125.70 million and the highest estimate coming in at $127.01 million. Cogent Communications posted sales of $115.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.2%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, February 22nd.

According to Zacks, 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 year, analysts anticipate that the firm will post sales of $532.23 million per share, with estimates ranging from $527.40 million to $536.65 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cogent Communications.

CCOI has been the topic of several research analyst reports. Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, January 25th. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Jefferies Group boosted their price objective on Cogent Communications from $39.00 to $43.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. SunTrust Banks cut Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research report on Friday, November 3rd. Finally, Citigroup cut Cogent Communications from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $43.00 to $39.00 in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Cogent Communications currently has an average rating of “Hold” and a consensus target price of $42.27.

Cogent Communications (NASDAQ:CCOI) opened at $41.70 on Monday. The company has a debt-to-equity ratio of -8.84, a current ratio of 4.22 and a quick ratio of 4.22. Cogent Communications has a 1 year low of $37.85 and a 1 year high of $54.85. The firm has a market capitalization of $1,920.00, a price-to-earnings ratio of 119.14, a price-to-earnings-growth ratio of 5.90 and a beta of 0.49.

In other news, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s 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 transaction, the vice president now owns 47,240 shares of the company’s stock, valued at approximately $2,197,132.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc Montagner sold 5,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $235,000.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $1,880,000. The disclosure for this sale can be found here. Insiders have sold a total of 13,250 shares of company stock worth $611,435 in the last ninety days. Insiders own 9.48% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Flinton Capital Management LLC lifted its position in shares of Cogent Communications by 63.4% during the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock valued at $106,000 after buying an additional 1,024 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cogent Communications by 1,919.3% during the 2nd 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. Sei Investments Co. lifted its holdings in Cogent Communications by 42.4% during the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after purchasing an additional 1,240 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Cogent Communications by 225.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,762 shares of the technology company’s stock worth $232,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Cogent Communications by 4.8% during the 2nd quarter. Amalgamated Bank now owns 5,756 shares of the technology company’s stock worth $231,000 after purchasing an additional 265 shares in the last quarter. 95.09% of the stock is currently owned by hedge funds and other institutional investors.

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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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