What is Zacks Research’s Forecast for CCOI FY2024 Earnings?

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Stock analysts at Zacks Research increased their FY2024 earnings estimates for Cogent Communications in a research report issued to clients and investors on Monday, February 24th. Zacks Research analyst R. Department now anticipates that the technology company will post earnings per share of ($4.61) for the year, up from their previous estimate of ($4.65). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.55) per share. Zacks Research also issued estimates for Cogent Communications’ Q4 2024 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.11) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($3.88) EPS, Q1 2026 earnings at ($0.34) EPS, Q2 2026 earnings at ($0.38) EPS, Q3 2026 earnings at ($0.11) EPS, Q4 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.92) EPS.

Separately, UBS Group started coverage on Cogent Communications in a research report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.25.

Cogent Communications Stock Performance

NASDAQ CCOI opened at $80.11 on Thursday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 102.71 and a beta of 0.40. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications has a twelve month low of $50.80 and a twelve month high of $86.76. The stock has a fifty day simple moving average of $76.77 and a 200 day simple moving average of $77.07.

Insiders Place Their Bets

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the transaction, the executive now directly owns 49,542 shares in the company, valued at approximately $3,794,917.20. This represents a 3.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Henry W. Kilmer sold 4,800 shares of Cogent Communications stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total transaction of $362,928.00. Following the completion of the sale, the vice president now owns 33,800 shares of the company’s stock, valued at $2,555,618. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,440 shares of company stock worth $1,057,910. Company insiders own 11.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CCOI. Vanguard Group Inc. boosted its position in shares of Cogent Communications by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company’s stock worth $394,182,000 after purchasing an additional 43,523 shares in the last quarter. Brown Advisory Inc. grew its stake in Cogent Communications by 24.1% in the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock valued at $146,209,000 after acquiring an additional 368,129 shares during the period. State Street Corp increased its holdings in shares of Cogent Communications by 1.3% during the third quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock valued at $132,921,000 after acquiring an additional 22,738 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Cogent Communications by 0.3% during the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock worth $117,107,000 after purchasing an additional 5,307 shares during the period. Finally, Hood River Capital Management LLC lifted its holdings in shares of Cogent Communications by 21.8% in the 4th quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after purchasing an additional 257,383 shares in the last quarter. 92.45% of the stock is owned by institutional investors.

Cogent Communications Company Profile

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.