Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Given Average Rating of “Hold” by Analysts

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have been given an average recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.7143.

Several research firms recently commented on CCOI. Royal Bank Of Canada dropped their price objective on Cogent Communications from $40.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 13th. JPMorgan Chase & Co. lowered their target price on shares of Cogent Communications from $37.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Citigroup reduced their price target on shares of Cogent Communications from $33.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. KeyCorp reissued an “overweight” rating on shares of Cogent Communications in a report on Wednesday, December 10th. Finally, UBS Group restated a “neutral” rating and set a $27.00 price objective (down previously from $50.00) on shares of Cogent Communications in a research report on Friday, November 7th.

Cogent Communications Price Performance

Shares of NASDAQ CCOI opened at $23.72 on Thursday. The firm has a market cap of $1.17 billion, a P/E ratio of -5.81 and a beta of 0.81. Cogent Communications has a twelve month low of $15.96 and a twelve month high of $84.06. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 49.06. The company has a 50 day moving average of $21.08 and a 200 day moving average of $33.75.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, November 6th. The technology company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.28. Cogent Communications had a negative return on equity of 208.70% and a negative net margin of 19.72%.The business had revenue of $241.95 million for the quarter, compared to the consensus estimate of $246.13 million. During the same period last year, the business posted ($1.33) EPS. The company’s revenue was down 5.9% compared to the same quarter last year. As a group, research analysts expect that Cogent Communications will post -4.55 EPS for the current fiscal year.

Cogent Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Friday, November 21st were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, November 21st. Cogent Communications’s dividend payout ratio is presently -1.96%.

Insider Buying and Selling at Cogent Communications

In related news, Director Sheryl Lynn Kennedy sold 2,400 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $21.34, for a total transaction of $51,216.00. Following the completion of the sale, the director owned 10,012 shares in the company, valued at approximately $213,656.08. This represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lewis H. Ferguson sold 4,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $81,360.00. Following the completion of the transaction, the director directly owned 19,267 shares in the company, valued at approximately $391,890.78. This represents a 17.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.40% of the company’s stock.

Institutional Trading of Cogent Communications

Large investors have recently added to or reduced their stakes in the business. Yousif Capital Management LLC increased its holdings in shares of Cogent Communications by 1.4% during the second quarter. Yousif Capital Management LLC now owns 15,815 shares of the technology company’s stock valued at $762,000 after acquiring an additional 212 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Cogent Communications by 3.6% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 7,534 shares of the technology company’s stock worth $289,000 after purchasing an additional 262 shares in the last quarter. Teacher Retirement System of Texas grew its position in Cogent Communications by 4.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,122 shares of the technology company’s stock worth $343,000 after purchasing an additional 314 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its stake in Cogent Communications by 0.8% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 44,259 shares of the technology company’s stock valued at $1,697,000 after purchasing an additional 369 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in shares of Cogent Communications by 5.7% in the third quarter. Keybank National Association OH now owns 6,835 shares of the technology company’s stock worth $262,000 after buying an additional 370 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors.

Cogent Communications Company Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.