Research Analysts Set Expectations for CCOI FY2028 Earnings

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Research analysts at Zacks Research reduced their FY2028 earnings per share estimates for shares of Cogent Communications in a report released on Monday, July 20th. Zacks Research analyst Team now anticipates that the technology company will post earnings per share of ($2.26) for the year, down from their prior forecast of ($2.15). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.25) per share.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Monday, May 4th. The technology company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.20. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 17.53%.The company had revenue of $239.19 million during the quarter, compared to analyst estimates of $241.31 million. During the same quarter in the previous year, the company posted ($1.09) earnings per share. Cogent Communications’s revenue was down 3.2% compared to the same quarter last year.

CCOI has been the subject of several other research reports. UBS Group reduced their price target on shares of Cogent Communications from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Wells Fargo & Company cut their target price on shares of Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their target price on shares of Cogent Communications from $22.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $22.00 price target on shares of Cogent Communications in a research report on Friday, May 29th. Finally, Weiss Ratings cut shares of Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.90.

Cogent Communications Stock Performance

Shares of NASDAQ:CCOI opened at $12.93 on Wednesday. The stock has a market capitalization of $647.53 million, a price-to-earnings ratio of -3.64 and a beta of 0.80. The stock’s 50-day simple moving average is $15.08 and its two-hundred day simple moving average is $19.36. Cogent Communications has a 52-week low of $10.93 and a 52-week high of $50.37.

Institutional Investors Weigh In On Cogent Communications

A number of institutional investors and hedge funds have recently bought and sold shares of CCOI. SG Americas Securities LLC boosted its holdings in shares of Cogent Communications by 795.4% during the 4th quarter. SG Americas Securities LLC now owns 68,025 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 60,428 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Cogent Communications by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 5,580,271 shares of the technology company’s stock worth $120,311,000 after purchasing an additional 217,450 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Cogent Communications by 206.4% in the fourth quarter. Vest Financial LLC now owns 74,634 shares of the technology company’s stock worth $1,609,000 after purchasing an additional 50,276 shares during the last quarter. Redmond Asset Management LLC lifted its position in shares of Cogent Communications by 45.8% in the fourth quarter. Redmond Asset Management LLC now owns 200,082 shares of the technology company’s stock worth $4,314,000 after buying an additional 62,828 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cogent Communications by 369.3% in the third quarter. JPMorgan Chase & Co. now owns 539,770 shares of the technology company’s stock worth $20,700,000 after buying an additional 424,746 shares in the last quarter. 92.45% of the stock is owned by institutional investors.

Insider Activity at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.01, for a total value of $40,824.00. Following the completion of the transaction, the vice president directly owned 38,600 shares in the company, valued at $656,586. This represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $16.79, for a total transaction of $81,431.50. Following the completion of the sale, the chief financial officer directly owned 197,900 shares of the company’s stock, valued at approximately $3,322,741. This trade represents a 2.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by insiders.

Cogent Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were paid a dividend of $0.02 per share. The ex-dividend date was Monday, May 18th. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Cogent Communications’s dividend payout ratio (DPR) is presently -2.25%.

Cogent Communications Company Profile

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.