Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives $80.25 Consensus PT from Analysts

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $80.25.

Separately, StockNews.com raised shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd.

Insider Transactions at Cogent Communications

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the sale, the director now owns 10,147 shares of the company’s stock, valued at approximately $740,325.12. The trade was a 12.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 956 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now directly owns 18,652 shares in the company, valued at approximately $1,293,702.72. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,681 shares of company stock worth $840,878. 11.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CCOI. Vanguard Group Inc. grew its holdings in shares of Cogent Communications by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company’s stock worth $394,182,000 after purchasing an additional 43,523 shares in the last quarter. Brown Advisory Inc. raised its holdings in Cogent Communications by 24.1% in the 4th quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock valued at $146,209,000 after buying an additional 368,129 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Cogent Communications by 21.8% during the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after purchasing an additional 257,383 shares during the period. DigitalBridge Group Inc. grew its position in shares of Cogent Communications by 246.0% in the 4th quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company’s stock valued at $69,973,000 after buying an additional 645,521 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Cogent Communications by 45.7% during the 4th quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company’s stock valued at $57,961,000 after purchasing an additional 235,842 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Price Performance

Cogent Communications stock opened at $53.50 on Tuesday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 68.59 and a beta of 0.69. Cogent Communications has a 12-month low of $47.54 and a 12-month high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The business’s 50-day simple moving average is $64.39 and its 200 day simple moving average is $73.72.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. The business had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. As a group, research analysts anticipate that Cogent Communications will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were given a dividend of $1.005 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 7.51%. The ex-dividend date was Thursday, March 13th. Cogent Communications’s dividend payout ratio is -93.49%.

About Cogent Communications

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.