Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives Average Recommendation of “Hold” from Analysts

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOIGet Rating) have received a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $74.14.

CCOI has been the topic of a number of research reports. StockNews.com began coverage on Cogent Communications in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup lowered their price target on Cogent Communications from $73.00 to $70.00 in a report on Monday, May 2nd. TheStreet downgraded Cogent Communications from a “b-” rating to a “c” rating in a report on Friday, April 29th. Finally, JPMorgan Chase & Co. upgraded Cogent Communications from a “neutral” rating to an “overweight” rating and set a $82.00 price target on the stock in a report on Thursday, February 10th.

NASDAQ:CCOI opened at $61.38 on Friday. The stock’s 50 day moving average price is $62.73 and its 200 day moving average price is $66.78. Cogent Communications has a 52 week low of $55.16 and a 52 week high of $80.50. The company has a market capitalization of $2.94 billion, a P/E ratio of 95.91 and a beta of 0.31.

Cogent Communications (NASDAQ:CCOIGet Rating) last released its quarterly earnings data on Friday, April 29th. The technology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.18). Cogent Communications had a negative return on equity of 6.39% and a net margin of 5.15%. The firm had revenue of $149.20 million during the quarter, compared to analyst estimates of $149.10 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts predict that Cogent Communications will post 0.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were issued a dividend of $0.88 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $3.52 annualized dividend and a dividend yield of 5.73%. Cogent Communications’s payout ratio is presently 550.01%.

In related news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $62.94, for a total value of $120,844.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John B. Chang sold 600 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $62.96, for a total transaction of $37,776.00. The disclosure for this sale can be found here. Insiders have sold 3,170 shares of company stock valued at $201,846 in the last ninety days. 11.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in Cogent Communications by 46.3% in the second quarter. Morgan Stanley now owns 171,957 shares of the technology company’s stock valued at $13,223,000 after buying an additional 54,446 shares during the period. Teacher Retirement System of Texas raised its holdings in Cogent Communications by 23.1% in the third quarter. Teacher Retirement System of Texas now owns 6,849 shares of the technology company’s stock worth $485,000 after purchasing an additional 1,284 shares during the period. Allianz Asset Management GmbH raised its holdings in Cogent Communications by 0.7% in the third quarter. Allianz Asset Management GmbH now owns 36,153 shares of the technology company’s stock worth $2,561,000 after purchasing an additional 265 shares during the period. Goldman Sachs Group Inc. raised its holdings in Cogent Communications by 160.2% in the third quarter. Goldman Sachs Group Inc. now owns 400,460 shares of the technology company’s stock worth $28,369,000 after purchasing an additional 246,528 shares during the period. Finally, First Republic Investment Management Inc. boosted its stake in Cogent Communications by 49.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 21,349 shares of the technology company’s stock worth $1,512,000 after purchasing an additional 7,090 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Cogent Communications Company Profile (Get Rating)

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, 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.

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Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

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