Cogent Communications Holdings, Inc. (CCOI) to Distribute Quarterly Dividend of $0.02 on December 8th

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) announced a quarterly dividend on Wednesday, November 5th. Stockholders of record on Friday, November 21st will be paid a dividend of 0.02 per share by the technology company on Monday, December 8th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, November 21st.

Cogent Communications has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 14 years. Cogent Communications has a payout ratio of -175.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cogent Communications to earn ($2.63) per share next year, which means the company may not be able to cover its $4.06 annual dividend with an expected future payout ratio of -154.4%.

Cogent Communications Stock Performance

Shares of Cogent Communications stock opened at $24.95 on Friday. The business’s fifty day simple moving average is $39.94 and its 200 day simple moving average is $44.58. Cogent Communications has a 12 month low of $24.25 and a 12 month high of $86.76. The firm has a market capitalization of $1.23 billion, a P/E ratio of -5.50 and a beta of 0.77. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 49.06.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported ($0.87) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.28. Cogent Communications had a negative net margin of 21.57% and a negative return on equity of 117.56%. The firm had revenue of $241.95 million for the quarter, compared to the consensus estimate of $246.13 million. During the same period in the prior year, the firm posted ($1.33) earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, analysts anticipate that Cogent Communications will post -4.55 EPS for the current year.

Cogent Communications declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

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.