Cogent Communications Group Inc. (NASDAQ:CCOI) – Equities research analysts at Oppenheimer Holdings decreased their Q3 2016 EPS estimates for Cogent Communications Group in a research note issued on Friday. Oppenheimer Holdings analyst T. Horan now expects that the brokerage will post earnings per share of $0.13 for the quarter, down from their prior estimate of $0.14. Oppenheimer Holdings currently has a “Outperform” rating and a $45.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Cogent Communications Group’s Q4 2016 earnings at $0.15 EPS and FY2017 earnings at $0.76 EPS.

Cogent Communications Group (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Cogent Communications Group had a negative return on equity of 89.73% and a net margin of 3.10%. The business had revenue of $110 million for the quarter, compared to the consensus estimate of $110.88 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue for the quarter was up 11.3% on a year-over-year basis.

Earnings History and Estimates for Cogent Communications Group (NASDAQ:CCOI)

A number of other research analysts have also recently weighed in on the company. Off Wall Street initiated coverage on Cogent Communications Group in a report on Monday, June 20th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. initiated coverage on Cogent Communications Group in a report on Monday, September 26th. They issued a “neutral” rating on the stock. TheStreet cut Cogent Communications Group from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Raymond James Financial Inc. cut Cogent Communications Group from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. Finally, Citigroup Inc. reduced their target price on Cogent Communications Group from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, August 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.70.

Cogent Communications Group (NASDAQ:CCOI) opened at 34.96 on Monday. Cogent Communications Group has a 12-month low of $29.24 and a 12-month high of $43.61. The stock has a 50 day moving average price of $35.87 and a 200-day moving average price of $38.62. The stock has a market cap of $1.56 billion, a P/E ratio of 118.11 and a beta of 0.98.

In related news, VP Henry W. Kilmer sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $42.15, for a total value of $42,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tim Weingarten sold 2,822 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $35.57, for a total value of $100,378.54. Following the completion of the sale, the director now directly owns 21,479 shares of the company’s stock, valued at $764,008.03. The disclosure for this sale can be found here. 9.17% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Cogent Communications Group by 115.5% in the first quarter. BlackRock Inc. now owns 3,205 shares of the company’s stock valued at $126,000 after buying an additional 1,718 shares in the last quarter. US Bancorp DE raised its stake in shares of Cogent Communications Group by 2.8% in the second quarter. US Bancorp DE now owns 3,427 shares of the company’s stock valued at $137,000 after buying an additional 93 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Cogent Communications Group by 113.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,546 shares of the company’s stock valued at $142,000 after buying an additional 1,886 shares in the last quarter. Riverhead Capital Management LLC purchased a new stake in shares of Cogent Communications Group during the first quarter valued at $165,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Cogent Communications Group by 306.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,025 shares of the company’s stock valued at $201,000 after buying an additional 3,790 shares in the last quarter. 98.09% of the stock is owned by hedge funds and other institutional investors.

About Cogent Communications Group

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

5 Day Chart for NASDAQ:CCOI

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