Cogent Communications (CCOI) Scheduled to Post Quarterly Earnings on Thursday

Cogent Communications (NASDAQ:CCOI) is set to release its earnings data before the market opens on Thursday, May 9th. Analysts expect Cogent Communications to post earnings of ($0.80) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.79. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. The company had revenue of $272.10 million during the quarter, compared to analyst estimates of $275.82 million. On average, analysts expect Cogent Communications to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Cogent Communications Price Performance

Shares of CCOI stock opened at $63.65 on Tuesday. Cogent Communications has a 1 year low of $57.35 and a 1 year high of $86.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.24. The firm’s 50 day moving average is $66.41 and its 200-day moving average is $69.53. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 2.38 and a beta of 0.39.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th were issued a dividend of $0.965 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. The ex-dividend date was Thursday, March 14th. This represents a $3.86 annualized dividend and a yield of 6.06%. Cogent Communications’s dividend payout ratio is currently 14.43%.

Insider Transactions at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.62, for a total value of $147,110.40. Following the sale, the executive now owns 54,822 shares of the company’s stock, valued at $4,200,461.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total value of $176,328.00. Following the completion of the transaction, the vice president now owns 41,000 shares in the company, valued at approximately $3,012,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.62, for a total value of $147,110.40. Following the sale, the executive now owns 54,822 shares in the company, valued at approximately $4,200,461.64. The disclosure for this sale can be found here. Insiders sold 69,320 shares of company stock valued at $4,669,997 in the last ninety days. 11.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CCOI. Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $75.00 in a research report on Thursday, March 7th. TD Cowen upped their target price on shares of Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. KeyCorp increased their price objective on shares of Cogent Communications from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.57.

About Cogent Communications

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.