Analysts Expect Cogent Communications Holdings Inc (CCOI) to Announce $0.17 EPS

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Analysts expect that Cogent Communications Holdings Inc (NASDAQ:CCOI) will announce earnings per share of $0.17 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Cogent Communications’ earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at $0.15. Cogent Communications posted earnings per share of $0.08 during the same quarter last year, which would suggest a positive year over year growth rate of 112.5%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Cogent Communications will report full year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.61 to $0.74. For the next fiscal year, analysts expect that the company will report earnings of $0.98 per share, with EPS estimates ranging from $0.74 to $1.22. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Cogent Communications.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.04). The company had revenue of $129.30 million during the quarter, compared to the consensus estimate of $131.13 million. Cogent Communications had a negative return on equity of 22.38% and a net margin of 2.13%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share.

Several brokerages recently issued reports on CCOI. Royal Bank of Canada lowered Cogent Communications from an “outperform” rating to a “sector perform” rating and set a $51.00 target price on the stock. in a research report on Tuesday, May 29th. They noted that the move was a valuation call. Oppenheimer upped their target price on Cogent Communications from $51.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, June 11th. Zacks Investment Research lowered Cogent Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. BidaskClub lowered Cogent Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Finally, Guggenheim reaffirmed a “hold” rating and set a $47.00 target price on shares of Cogent Communications in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $47.89.

Shares of CCOI traded down $0.05 during trading hours on Friday, hitting $55.40. The company had a trading volume of 13,458 shares, compared to its average volume of 217,385. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 145.79, a PEG ratio of 8.36 and a beta of 0.60. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of -6.22. Cogent Communications has a one year low of $35.75 and a one year high of $57.65.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.90%. Cogent Communications’s dividend payout ratio is currently 568.42%.

In other news, Director Blake Bath sold 18,411 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $54.93, for a total value of $1,011,316.23. Following the transaction, the director now directly owns 34,175 shares of the company’s stock, valued at $1,877,232.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,500 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $53.55, for a total value of $240,975.00. Following the completion of the transaction, the chief financial officer now directly owns 69,050 shares in the company, valued at $3,697,627.50. The disclosure for this sale can be found here. Insiders sold 32,911 shares of company stock worth $1,793,951 over the last three months. Corporate insiders own 10.21% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Cogent Communications in the first quarter valued at about $152,000. Captrust Financial Advisors acquired a new position in shares of Cogent Communications in the second quarter valued at about $266,000. Quantbot Technologies LP acquired a new position in shares of Cogent Communications in the first quarter valued at about $216,000. Sei Investments Co. increased its holdings in shares of Cogent Communications by 29.7% in the first quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock valued at $232,000 after purchasing an additional 1,223 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Cogent Communications in the second quarter valued at about $311,000. 90.40% of the stock is currently owned by institutional investors and hedge funds.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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