Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives $26.78 Consensus PT from Analysts

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has received an average recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.7778.

Several research analysts have recently commented on CCOI shares. Williams Trading set a $40.00 price target on shares of Cogent Communications in a research note on Monday, February 23rd. TD Cowen reiterated a “buy” rating on shares of Cogent Communications in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Cogent Communications in a research report on Monday, December 22nd. KeyCorp cut their target price on Cogent Communications from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Finally, Wells Fargo & Company reduced their price target on Cogent Communications from $27.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th.

Insider Buying and Selling

In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $22.99, for a total transaction of $75,867.00. Following the completion of the sale, the director owned 10,100 shares of the company’s stock, valued at $232,199. This represents a 24.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $23.35, for a total value of $56,040.00. Following the transaction, the vice president owned 41,000 shares in the company, valued at approximately $957,350. This trade represents a 5.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,756 shares of company stock valued at $292,467 in the last quarter. Company insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in Cogent Communications in the 3rd quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cogent Communications in the fourth quarter valued at about $28,000. Hantz Financial Services Inc. grew its position in shares of Cogent Communications by 313.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,127 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Cogent Communications in the fourth quarter worth about $43,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Cogent Communications by 56.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,092 shares of the technology company’s stock worth $45,000 after purchasing an additional 756 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Cogent Communications Trading Down 4.2%

Shares of NASDAQ CCOI opened at $18.80 on Friday. The business has a 50 day simple moving average of $22.99 and a 200 day simple moving average of $28.36. Cogent Communications has a 52 week low of $15.96 and a 52 week high of $71.55. The stock has a market cap of $941.13 million, a price-to-earnings ratio of -4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 49.06, a quick ratio of 2.04 and a current ratio of 2.04.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Friday, February 20th. The technology company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.45. The firm had revenue of $240.52 million for the quarter, compared to analyst estimates of $243.82 million. Cogent Communications had a negative net margin of 18.67% and a negative return on equity of 842.48%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.91) earnings per share. On average, research analysts predict that Cogent Communications will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 6th. Cogent Communications’s dividend payout ratio (DPR) is presently -2.10%.

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.