Equities Analysts Issue Forecasts for Cogent Communications Holdings, Inc.’s Q4 2017 Earnings (CCOI)

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Research analysts at William Blair reduced their Q4 2017 earnings estimates for shares of Cogent Communications Holdings in a research note issued to investors on Thursday. William Blair analyst J. Breen now expects that the technology company will post earnings per share of $0.10 for the quarter, down from their prior forecast of $0.11. William Blair also issued estimates for Cogent Communications Holdings’ FY2018 earnings at $0.56 EPS.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $48.00 price target (up previously from $47.00) on shares of Cogent Communications Holdings in a report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of Cogent Communications Holdings in a report on Sunday, July 9th. Cowen and Company reaffirmed a “hold” rating and issued a $42.00 price target on shares of Cogent Communications Holdings in a report on Friday, July 28th. Finally, Zacks Investment Research raised shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $42.67.

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Cogent Communications Holdings (NASDAQ CCOI) traded up 0.58% during trading on Monday, hitting $43.45. The stock had a trading volume of 19,226 shares. The firm has a market capitalization of $1.94 billion, a PE ratio of 127.79 and a beta of 0.74. Cogent Communications Holdings has a 1-year low of $34.23 and a 1-year high of $45.25. The firm has a 50 day moving average price of $41.28 and a 200-day moving average price of $41.63.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 4.26%. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, August 16th. Cogent Communications Holdings’s payout ratio is currently 488.89%.

In related news, VP Robert N. Beury, Jr. sold 3,000 shares of Cogent Communications Holdings stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total value of $120,600.00. Following the completion of the transaction, the vice president now directly owns 53,240 shares in the company, valued at approximately $2,140,248. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $40.25, for a total transaction of $40,250.00. Following the completion of the transaction, the vice president now owns 43,052 shares of the company’s stock, valued at $1,732,843. The disclosure for this sale can be found here. Insiders sold a total of 17,433 shares of company stock valued at $715,146 over the last quarter. 9.48% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC raised its position in Cogent Communications Holdings by 74.2% in the first 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 in the last quarter. Sei Investments Co. raised its position 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 worth $117,000 after buying an additional 670 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock worth $122,000 after buying an additional 756 shares in the last quarter. Elkfork Partners LLC raised its position in Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock worth $148,000 after buying an additional 918 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in Cogent Communications Holdings during the first quarter worth $155,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

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.

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

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