FY2017 Earnings Forecast for Cogent Communications Holdings, Inc. (CCOI) Issued By KeyCorp
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Research analysts at KeyCorp reduced their FY2017 earnings per share estimates for shares of Cogent Communications Holdings in a report issued on Thursday. KeyCorp analyst B. Nispel now forecasts that the technology company will earn $0.41 per share for the year, down from their prior forecast of $0.47. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Cogent Communications Holdings’ Q4 2017 earnings at $0.14 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $0.87 EPS.
Several other research analysts have also recently weighed in on CCOI. Deutsche Bank AG reiterated a “buy” rating and set a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. BidaskClub upgraded Cogent Communications Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Cowen and Company reiterated a “hold” rating and set a $42.00 price objective on shares of Cogent Communications Holdings in a research report on Friday, July 28th. Off Wall Street started coverage on Cogent Communications Holdings in a research report on Monday, July 31st. They set a “sell” rating and a $29.00 price objective on the stock. Finally, Zacks Investment Research cut Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $43.77.
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Cogent Communications Holdings (NASDAQ CCOI) opened at $46.05 on Monday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of -8.84. The firm has a market capitalization of $2,056.49, a price-to-earnings ratio of 124.31, a price-to-earnings-growth ratio of 11.35 and a beta of 0.65. Cogent Communications Holdings has a 12-month low of $35.75 and a 12-month high of $54.85.
Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). The firm had revenue of $123.00 million for the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications Holdings had a negative return on equity of 23.86% and a net margin of 3.37%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 17th will be given a $0.48 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.46. Cogent Communications Holdings’s dividend payout ratio (DPR) is presently 511.11%.
In related news, VP Raymond B. Kummer sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $45.78, for a total value of $91,560.00. Following the sale, the vice president now directly owns 59,140 shares of the company’s stock, valued at $2,707,429.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tim Weingarten sold 1,616 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $45.97, for a total value of $74,287.52. Following the completion of the sale, the director now directly owns 18,686 shares in the company, valued at $858,995.42. The disclosure for this sale can be found here. Insiders sold 18,216 shares of company stock worth $850,007 in the last 90 days. 9.48% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC boosted its stake in Cogent Communications Holdings by 63.4% in the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock valued at $106,000 after buying an additional 1,024 shares in the last quarter. Sei Investments Co. boosted its stake in Cogent Communications Holdings by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after buying an additional 670 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in Cogent Communications Holdings in the second quarter valued at about $140,000. PNC Financial Services Group Inc. boosted its stake in Cogent Communications Holdings by 1,919.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock valued at $151,000 after buying an additional 3,589 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Cogent Communications Holdings by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock valued at $167,000 after buying an additional 1,663 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.
About Cogent Communications Holdings
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.
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