Equities Analysts Offer Predictions for CCOI FY2028 Earnings

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Stock analysts at Zacks Research lowered their FY2028 earnings per share (EPS) estimates for shares of Cogent Communications in a research note issued to investors on Monday, July 20th. Zacks Research analyst Team now anticipates that the technology company will earn ($2.26) per share for the year, down from their prior estimate of ($2.15). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.25) per share.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Monday, May 4th. The technology company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.20. The firm had revenue of $239.19 million during the quarter, compared to analysts’ expectations of $241.31 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 17.53%.The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.09) earnings per share.

A number of other research analysts also recently commented on CCOI. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $22.00 target price on shares of Cogent Communications in a research report on Friday, May 29th. TD Cowen reissued a “buy” rating on shares of Cogent Communications in a research report on Monday, June 22nd. Weiss Ratings downgraded shares of Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. UBS Group dropped their price objective on Cogent Communications from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Finally, Wells Fargo & Company cut their target price on Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.90.

Cogent Communications Trading Down 0.2%

CCOI stock opened at $12.90 on Wednesday. The stock has a market cap of $646.03 million, a P/E ratio of -3.63 and a beta of 0.80. Cogent Communications has a twelve month low of $10.93 and a twelve month high of $49.93. The company’s 50 day moving average is $15.02 and its two-hundred day moving average is $19.31.

Hedge Funds Weigh In On Cogent Communications

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in Cogent Communications by 208.6% during the 1st quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock worth $27,000 after acquiring an additional 968 shares during the period. Quarry LP purchased a new stake in shares of Cogent Communications during the third quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cogent Communications during the fourth quarter worth approximately $28,000. Hantz Financial Services Inc. lifted its holdings in shares of Cogent Communications by 313.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,127 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Cogent Communications during the fourth quarter worth $43,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Insiders Place Their Bets

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,850 shares of Cogent Communications stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total value of $81,431.50. Following the transaction, the chief financial officer directly owned 197,900 shares in the company, valued at approximately $3,322,741. The trade was a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.01, for a total transaction of $40,824.00. Following the completion of the sale, the vice president directly owned 38,600 shares of the company’s stock, valued at $656,586. The trade was a 5.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by corporate insiders.

Cogent Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were given a $0.02 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.08 annualized dividend and a yield of 0.6%. Cogent Communications’s dividend payout ratio is -2.25%.

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.