Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) have earned an average rating of "Moderate Buy" from the six research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $73.57.
A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Cogent Communications from a "hold" rating to a "sell" rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on Cogent Communications from $73.00 to $70.00 and set a "neutral" rating on the stock in a research report on Monday, May 13th. TD Cowen reduced their price objective on Cogent Communications from $84.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, May 10th. KeyCorp reduced their target price on Cogent Communications from $88.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday, May 10th. Finally, The Goldman Sachs Group assumed coverage on Cogent Communications in a research report on Monday, July 1st. They set a "neutral" rating and a $56.00 target price on the stock.
View Our Latest Analysis on CCOI
Insider Activity
In other news, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $51.78, for a total value of $3,106,800.00. Following the completion of the sale, the chief executive officer now owns 4,433,038 shares in the company, valued at $229,542,707.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 2,400 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $52.60, for a total transaction of $126,240.00. Following the transaction, the chief financial officer now owns 93,300 shares of the company's stock, valued at approximately $4,907,580. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $51.78, for a total value of $3,106,800.00. Following the transaction, the chief executive officer now directly owns 4,433,038 shares in the company, valued at approximately $229,542,707.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,440 shares of company stock worth $9,828,016. 11.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Cogent Communications in the 1st quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its stake in Cogent Communications by 313.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company's stock valued at $38,000 after acquiring an additional 383 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Cogent Communications by 109.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company's stock valued at $48,000 after acquiring an additional 333 shares in the last quarter. Covestor Ltd raised its stake in Cogent Communications by 17.2% during the 1st quarter. Covestor Ltd now owns 1,880 shares of the technology company's stock valued at $123,000 after acquiring an additional 276 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Cogent Communications during the 1st quarter valued at $136,000. Institutional investors own 92.45% of the company's stock.
Cogent Communications Stock Performance
Shares of NASDAQ CCOI traded up $5.35 during trading hours on Thursday, reaching $64.18. The stock had a trading volume of 1,050,023 shares, compared to its average volume of 464,649. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 2.54 and a beta of 0.41. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.80. Cogent Communications has a fifty-two week low of $50.80 and a fifty-two week high of $86.00. The firm has a 50-day moving average of $57.02 and a 200-day moving average of $66.05.
Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The technology company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.19). The company had revenue of $266.17 million for the quarter, compared to analysts' expectations of $274.13 million. Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. Equities research analysts predict that Cogent Communications will post -4.81 earnings per share for the current year.
Cogent Communications Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were paid a $0.975 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.90 dividend on an annualized basis and a dividend yield of 6.08%. This is a positive change from Cogent Communications's previous quarterly dividend of $0.97. Cogent Communications's dividend payout ratio (DPR) is 15.45%.
About Cogent Communications
(Get Free Report
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.
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