Cogent Communications Holdings, Inc. (CCOI) Earns “Underperform” Rating from Raymond James Financial, Inc.

Raymond James Financial, Inc. restated their underperform rating on shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in a research report report published on Friday, November 3rd, Marketbeat reports.

Several other research firms have also recently issued reports on CCOI. Royal Bank Of Canada lifted their price objective on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an outperform rating in a research report on Monday, August 7th. Cowen and Company reaffirmed a hold rating and set a $42.00 price objective on shares of Cogent Communications Holdings in a research report on Friday, July 28th. Zacks Investment Research cut shares of Cogent Communications Holdings from a hold rating to a sell rating in a research report on Friday, August 4th. BidaskClub cut shares of Cogent Communications Holdings from a buy rating to a hold rating in a research report on Friday, August 4th. Finally, KeyCorp reissued a hold rating on shares of Cogent Communications Holdings in a research report on Wednesday, October 11th. Five equities 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 company. The stock presently has an average rating of Hold and an average price target of $43.77.

Shares of Cogent Communications Holdings (CCOI) opened at $45.80 on Friday. The stock has a market cap of $2,100.00, a P/E ratio of 134.72, a PEG ratio of 12.65 and a beta of 0.65. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of -8.84. Cogent Communications Holdings has a 1-year low of $35.75 and a 1-year high of $54.85.

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

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The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.46. Cogent Communications Holdings’s dividend payout ratio is 548.57%.

In other Cogent Communications Holdings news, VP Raymond B. Kummer sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $45.78, for a total transaction of $91,560.00. Following 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 SEC, which is accessible through the SEC website. Also, VP Henry W. Kilmer sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $46.45, for a total transaction of $139,350.00. Following the transaction, the vice president now directly owns 36,600 shares in the company, valued at approximately $1,700,070. The disclosure for this sale can be found here. Insiders sold 17,716 shares of company stock worth $828,227 in the last ninety days. Insiders own 9.48% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Cogent Communications Holdings by 3.5% in the second quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock worth $205,670,000 after acquiring an additional 172,987 shares in the last quarter. Jennison Associates LLC grew its holdings in Cogent Communications Holdings by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 2,340,837 shares of the technology company’s stock valued at $114,467,000 after purchasing an additional 473,088 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Cogent Communications Holdings by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock valued at $82,550,000 after purchasing an additional 245,100 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cogent Communications Holdings by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,133 shares of the technology company’s stock valued at $59,513,000 after purchasing an additional 150,328 shares in the last quarter. Finally, MIG Capital LLC grew its holdings in Cogent Communications Holdings by 7.3% during the 2nd quarter. MIG Capital LLC now owns 1,425,000 shares of the technology company’s stock valued at $57,143,000 after purchasing an additional 97,160 shares in the last quarter. 92.71% of the stock is owned by institutional investors.

About Cogent Communications Holdings

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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