Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Given Consensus Recommendation of “Hold” by Analysts

Cogent Communications Holdings, Inc. (NASDAQ:CCOIGet Rating) has earned an average rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $74.14.

A number of brokerages recently commented on CCOI. StockNews.com began coverage on shares of Cogent Communications in a research report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet cut shares of Cogent Communications from a “b-” rating to a “c” rating in a report on Friday, April 29th. Citigroup dropped their target price on shares of Cogent Communications from $73.00 to $70.00 in a report on Monday, May 2nd. Finally, JPMorgan Chase & Co. raised shares of Cogent Communications from a “neutral” rating to an “overweight” rating and set a $82.00 target price for the company in a report on Thursday, February 10th.

NASDAQ CCOI opened at $61.38 on Friday. Cogent Communications has a one year low of $55.16 and a one year high of $80.50. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 95.91 and a beta of 0.31. The firm has a 50 day simple moving average of $62.73 and a 200-day simple moving average of $66.78.

Cogent Communications (NASDAQ:CCOIGet Rating) last announced its earnings results on Friday, April 29th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.18). Cogent Communications had a negative return on equity of 6.39% and a net margin of 5.15%. The business had revenue of $149.20 million for the quarter, compared to analyst estimates of $149.10 million. During the same quarter last year, the company posted $0.41 EPS. Cogent Communications’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, analysts forecast that Cogent Communications will post 0.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.73%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.86. The ex-dividend date was Thursday, May 12th. Cogent Communications’s dividend payout ratio (DPR) is 550.01%.

In related news, CRO James Bubeck sold 1,920 shares of the stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $62.94, for a total transaction of $120,844.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John B. Chang sold 600 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 3,170 shares of company stock valued at $201,846. Corporate insiders own 11.00% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Cogent Communications by 10.2% during the fourth quarter. BlackRock Inc. now owns 7,072,055 shares of the technology company’s stock worth $517,534,000 after acquiring an additional 654,635 shares during the last quarter. Vanguard Group Inc. grew its position in Cogent Communications by 2.2% in the first quarter. Vanguard Group Inc. now owns 4,939,989 shares of the technology company’s stock valued at $327,768,000 after acquiring an additional 104,827 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Cogent Communications by 1.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,786,306 shares of the technology company’s stock valued at $118,522,000 after purchasing an additional 33,171 shares during the period. State Street Corp boosted its stake in shares of Cogent Communications by 14.0% in the first quarter. State Street Corp now owns 1,706,265 shares of the technology company’s stock valued at $113,211,000 after purchasing an additional 210,120 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Cogent Communications by 1.1% during the 1st quarter. Brown Advisory Inc. now owns 1,538,604 shares of the technology company’s stock valued at $102,157,000 after purchasing an additional 16,094 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.

Cogent Communications Company Profile (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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