Cogent Communications Holdings, Inc. (CCOI) Rating Lowered to Sell at Citigroup Inc.

Citigroup Inc. lowered shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) from a neutral rating to a sell rating in a research report report published on Thursday, November 2nd, Marketbeat Ratings reports. They currently have $39.00 target price on the technology company’s stock, down from their prior target price of $43.00.

A number of other research firms have also issued reports on CCOI. Royal Bank Of Canada restated a buy rating and set a $48.00 price target on shares of Cogent Communications Holdings in a report on Monday, September 18th. BidaskClub raised shares of Cogent Communications Holdings from a hold rating to a buy rating in a research report on Monday, July 24th. Deutsche Bank AG reaffirmed a buy rating and set a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a report on Friday, July 14th. Zacks Investment Research raised shares of Cogent Communications Holdings from a hold rating to a buy rating and set a $57.00 price objective for the company in a report on Monday, October 9th. Finally, Cowen and Company reissued a hold rating and issued a $46.00 price target on shares of Cogent Communications Holdings in a report on Friday, August 4th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $43.77.

Shares of Cogent Communications Holdings (NASDAQ CCOI) traded up $0.90 on Thursday, hitting $45.85. 309,400 shares of the company’s stock were exchanged, compared to its average volume of 333,881. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22. The firm has a market cap of $2,065.68, a price-to-earnings ratio of 124.86, a PEG ratio of 11.73 and a beta of 0.65. Cogent Communications Holdings has a 52 week low of $35.75 and a 52 week high of $54.85.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The business had revenue of $123.00 million for the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications Holdings had a net margin of 3.37% and a negative return on equity of 23.86%. Cogent Communications Holdings’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. equities research analysts anticipate that Cogent Communications Holdings will post 0.38 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 17th will be given a dividend of $0.48 per share. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.92 annualized dividend and a yield of 4.19%. Cogent Communications Holdings’s dividend payout ratio is currently 511.11%.

In other news, VP Raymond B. Kummer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $45.78, for a total value of $91,560.00. Following the completion of the transaction, the vice president now owns 59,140 shares of the company’s stock, valued at $2,707,429.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tim Weingarten sold 1,616 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $45.97, for a total value of $74,287.52. Following the completion of the transaction, the director now directly owns 18,686 shares of the company’s stock, valued at approximately $858,995.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,716 shares of company stock valued at $828,227. Insiders own 9.48% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC increased its stake in Cogent Communications Holdings by 0.5% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock worth $288,000 after purchasing an additional 38 shares during the period. Pinebridge Investments L.P. boosted its stake in shares of Cogent Communications Holdings by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock worth $217,000 after acquiring an additional 53 shares during the period. Aperio Group LLC boosted its stake in Cogent Communications Holdings by 1.1% during the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock valued at $368,000 after buying an additional 99 shares during the last quarter. Arizona State Retirement System boosted its stake in Cogent Communications Holdings by 0.5% during the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock valued at $858,000 after buying an additional 100 shares during the last quarter. Finally, Laurion Capital Management LP raised its holdings in shares of Cogent Communications Holdings by 1.3% in the second quarter. Laurion Capital Management LP now owns 8,000 shares of the technology company’s stock worth $321,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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