Analysts expect Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) to announce sales of $149.02 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Cogent Communications’ earnings, with the lowest sales estimate coming in at $146.78 million and the highest estimate coming in at $150.47 million. Cogent Communications posted sales of $146.78 million in the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The business is scheduled to issue its next quarterly earnings report before the market opens on Monday, January 1st.
On average, analysts expect that Cogent Communications will report full year sales of $605.80 million for the current financial year, with estimates ranging from $589.79 million to $618.90 million. For the next year, analysts forecast that the firm will post sales of $628.38 million, with estimates ranging from $600.34 million to $654.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cogent Communications.
Cogent Communications (NASDAQ:CCOI – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The technology company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $147.20 million during the quarter, compared to analyst estimates of $149.14 million. Cogent Communications had a negative return on equity of 12.02% and a net margin of 8.17%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS.
In related news, VP John B. Chang sold 600 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $62.96, for a total value of $37,776.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $62.94, for a total value of $120,844.80. The disclosure for this sale can be found here. Insiders sold 3,170 shares of company stock worth $201,846 in the last 90 days. Company insiders own 11.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in CCOI. Segall Bryant & Hamill LLC increased its holdings in shares of Cogent Communications by 2.7% in the third quarter. Segall Bryant & Hamill LLC now owns 113,164 shares of the technology company’s stock valued at $8,016,000 after purchasing an additional 3,014 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Cogent Communications by 9.9% in the third quarter. WINTON GROUP Ltd now owns 25,048 shares of the technology company’s stock valued at $1,774,000 after purchasing an additional 2,260 shares during the last quarter. Capital Insight Partners LLC increased its holdings in shares of Cogent Communications by 6.5% in the fourth quarter. Capital Insight Partners LLC now owns 48,217 shares of the technology company’s stock valued at $3,529,000 after purchasing an additional 2,960 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Cogent Communications by 13.9% in the third quarter. LPL Financial LLC now owns 17,733 shares of the technology company’s stock valued at $1,256,000 after purchasing an additional 2,168 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in shares of Cogent Communications by 115.9% in the third quarter. Zacks Investment Management now owns 11,836 shares of the technology company’s stock valued at $838,000 after purchasing an additional 6,353 shares during the last quarter. 86.55% of the stock is owned by institutional investors and hedge funds.
Shares of CCOI traded down $0.65 during trading hours on Monday, hitting $67.91. The company had a trading volume of 256,900 shares, compared to its average volume of 288,806. The company has a market capitalization of $3.26 billion, a PE ratio of 65.93 and a beta of 0.23. Cogent Communications has a one year low of $57.23 and a one year high of $80.50. The company’s fifty day moving average price is $64.42 and its two-hundred day moving average price is $69.73.
The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Wednesday, March 9th were paid a $0.855 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.04%. Cogent Communications’s dividend payout ratio is presently 332.04%.
About Cogent Communications (Get Rating)
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, 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.
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