Cogent Communications Group Inc. (CCOI) Stock Rating Upgraded by TheStreet
Cogent Communications Group Inc. (NASDAQ:CCOI) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research report issued on Friday.
A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. started coverage on shares of Cogent Communications Group in a research report on Monday, September 26th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered shares of Cogent Communications Group from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Citigroup Inc. dropped their price target on shares of Cogent Communications Group from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, August 12th. Raymond James Financial Inc. lowered shares of Cogent Communications Group from an “outperform” rating to a “market perform” rating in a research report on Monday, August 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Cogent Communications Group in a research report on Friday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.38.
Cogent Communications Group (NASDAQ:CCOI) traded down 0.64% on Friday, hitting $38.85. The company has a market cap of $1.73 billion, a PE ratio of 128.22 and a beta of 0.82. Cogent Communications Group has a 52-week low of $29.65 and a 52-week high of $43.61. The company’s 50-day moving average is $37.35 and its 200 day moving average is $38.43.
Cogent Communications Group (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. Cogent Communications Group had a net margin of 3.10% and a negative return on equity of 53.79%. The firm earned $113.10 million during the quarter, compared to the consensus estimate of $113.25 million. During the same period in the prior year, the business earned $0.07 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts expect that Cogent Communications Group will post $0.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, November 18th. This is an increase from Cogent Communications Group’s previous quarterly dividend of $0.38. Cogent Communications Group’s payout ratio is currently 516.13%.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2016/11/29/cogent-communications-group-inc-ccoi-stock-rating-upgraded-by-thestreet.html.
In other news, Director Tim Weingarten sold 2,822 shares of the business’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $35.57, for a total value of $100,378.54. Following the sale, the director now owns 21,479 shares in the company, valued at approximately $764,008.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $35.52, for a total transaction of $35,520.00. The disclosure for this sale can be found here. 9.17% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. US Bancorp DE increased 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 increased 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 approximately $165,000. O Shaughnessy Asset Management LLC increased 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. Finally, Zacks Investment Management purchased a new stake in shares of Cogent Communications Group during the second quarter valued at approximately $209,000. Institutional investors own 97.09% of the company’s stock.
Cogent Communications Group Company Profile
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.
Receive News & Stock Ratings for Cogent Communications Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications Group Inc. and related stocks with our FREE daily email newsletter.