Cogent Communications Holdings, Inc. (CCOI) Expected to Post Quarterly Sales of $123.53 Million

Wall Street brokerages predict that Cogent Communications Holdings, Inc. (NASDAQ:CCOI) will report sales of $123.53 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Cogent Communications Holdings’ earnings. The lowest sales estimate is $123.22 million and the highest is $124.10 million. Cogent Communications Holdings posted sales of $113.06 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.3%. The business is scheduled to issue its next earnings results on Thursday, November 2nd.

On average, analysts expect that Cogent Communications Holdings will report full-year sales of $123.53 million for the current year, with estimates ranging from $486.33 million to $488.40 million. For the next fiscal year, analysts expect that the business will post sales of $536.08 million per share, with estimates ranging from $531.40 million to $539.21 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cogent Communications Holdings.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). The business had revenue of $119.80 million during the quarter, compared to the consensus estimate of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS.

A number of research firms recently commented on CCOI. Royal Bank Of Canada reaffirmed a “buy” rating and set a $48.00 price target on shares of Cogent Communications Holdings in a research report on Monday, September 18th. Off Wall Street assumed coverage on shares of Cogent Communications Holdings in a report on Monday, July 31st. They issued a “sell” rating and a $29.00 target price on the stock. Cowen and Company reissued a “hold” rating and issued a $42.00 target price on shares of Cogent Communications Holdings in a report on Friday, July 28th. BidaskClub lowered shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $42.45.

In related news, VP Raymond B. Kummer sold 2,000 shares of Cogent Communications Holdings stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $45.78, for a total transaction of $91,560.00. Following the sale, the vice president now directly owns 59,140 shares in the company, valued at approximately $2,707,429.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Henry W. Kilmer sold 3,000 shares of Cogent Communications Holdings stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $46.45, for a total transaction of $139,350.00. Following the sale, the vice president now owns 36,600 shares in the company, valued at $1,700,070. The disclosure for this sale can be found here. Insiders have sold a total of 30,466 shares of company stock worth $1,365,104 over the last ninety days. 9.48% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of CCOI. Flinton Capital Management LLC boosted its position in Cogent Communications Holdings by 63.4% during the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after buying an additional 1,024 shares during the period. LS Investment Advisors LLC boosted its position in Cogent Communications Holdings by 74.2% during the 1st quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock worth $111,000 after buying an additional 1,095 shares during the period. Sei Investments Co. boosted its position in Cogent Communications Holdings by 29.7% during the 2nd quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after buying an additional 670 shares during the period. Pacad Investment Ltd. acquired a new stake in Cogent Communications Holdings during the 2nd quarter worth approximately $140,000. Finally, PNC Financial Services Group Inc. boosted its position in Cogent Communications Holdings by 1,919.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after buying an additional 3,589 shares during the period. Institutional investors and hedge funds own 93.48% of the company’s stock.

Cogent Communications Holdings (NASDAQ CCOI) traded up 0.52% during mid-day trading on Wednesday, reaching $48.15. 333,849 shares of the company were exchanged. The company’s 50 day moving average price is $44.45 and its 200-day moving average price is $42.31. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 137.57 and a beta of 0.71. Cogent Communications Holdings has a 12-month low of $34.23 and a 12-month high of $48.80.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, August 16th. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 3.82%. Cogent Communications Holdings’s payout ratio is 511.11%.

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Cogent Communications Holdings 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.

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

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