Cogent Communications (CCOI) to Release Quarterly Earnings on Thursday

Cogent Communications (NASDAQ:CCOI) will be announcing its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.80) per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.79. The business had revenue of $272.10 million during the quarter, compared to analysts’ expectations of $275.82 million. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. On average, analysts expect Cogent Communications to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Cogent Communications Trading Down 0.9 %

NASDAQ:CCOI opened at $63.07 on Wednesday. Cogent Communications has a 1 year low of $57.35 and a 1 year high of $86.00. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $2.99 billion, a P/E ratio of 2.36 and a beta of 0.39. The stock has a 50-day simple moving average of $65.75 and a 200-day simple moving average of $69.53.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th were issued a $0.965 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. This represents a $3.86 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend was Thursday, March 14th. Cogent Communications’s payout ratio is presently 14.43%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCOI. JPMorgan Chase & Co. cut their target price on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. TD Cowen raised their target price on Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $75.00 in a research note on Thursday, March 7th. KeyCorp boosted their target price on Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.57.

Insiders Place Their Bets

In related news, CRO James Bubeck sold 1,920 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.62, for a total value of $147,110.40. Following the transaction, the executive now directly owns 54,822 shares in the company, valued at $4,200,461.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cogent Communications news, CEO Dave Schaeffer sold 8,826 shares of Cogent Communications stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $72.55, for a total value of $640,326.30. Following the sale, the chief executive officer now directly owns 4,815,764 shares in the company, valued at approximately $349,383,678.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.62, for a total transaction of $147,110.40. Following the transaction, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,320 shares of company stock valued at $4,669,997. 11.00% of the stock is currently owned by insiders.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.