Cogent Communications Holdings Inc (NASDAQ:CCOI) declared a quarterly dividend on Thursday, November 7th, Zacks reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.64 per share by the technology company on Monday, December 9th. This represents a $2.56 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Cogent Communications’s previous quarterly dividend of $0.62.
Shares of Cogent Communications stock opened at $62.36 on Friday. The firm has a market capitalization of $2.70 billion, a P/E ratio of 98.98, a P/E/G ratio of 9.38 and a beta of 0.56. Cogent Communications has a 52 week low of $42.40 and a 52 week high of $64.24. The firm’s 50 day moving average is $56.78 and its two-hundred day moving average is $58.57.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.12. The company had revenue of $136.94 million for the quarter, compared to analyst estimates of $136.50 million. Cogent Communications had a net margin of 5.97% and a negative return on equity of 20.58%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Cogent Communications will post 0.77 earnings per share for the current year.
Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Wells Fargo & Co restated a “hold” rating on shares of Cogent Communications in a research report on Friday, August 9th. BidaskClub upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. ValuEngine lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, TheStreet lowered shares of Cogent Communications from a “b” rating to a “c+” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Cogent Communications has a consensus rating of “Hold” and an average price target of $61.40.
In other news, CEO Mike Slessor sold 14,835 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.03, for a total transaction of $267,475.05. Also, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $60.98, for a total transaction of $60,980.00. Following the transaction, the vice president now owns 37,252 shares in the company, valued at $2,271,626.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,080 shares of company stock worth $1,239,512. Insiders own 10.17% of the company’s stock.
About Cogent Communications
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
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