BidaskClub upgraded shares of Cogent Communications (NASDAQ:CCOI) from a hold rating to a buy rating in a research report report published on Thursday morning.

A number of other brokerages have also weighed in on CCOI. Citigroup lowered Cogent Communications from a neutral rating to a sell rating and dropped their price objective for the stock from $43.00 to $39.00 in a report on Thursday, November 2nd. Raymond James Financial reaffirmed an underperform rating on shares of Cogent Communications in a report on Friday, November 3rd. Jefferies Group upped their price objective on Cogent Communications from $39.00 to $43.00 and gave the stock a hold rating in a report on Friday, November 3rd. Wells Fargo & Company lowered Cogent Communications from an outperform rating to a market perform rating and upped their price objective for the stock from $46.00 to $48.00 in a report on Monday, October 9th. Finally, Zacks Investment Research lowered Cogent Communications from a buy rating to a hold rating in a report on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Cogent Communications currently has a consensus rating of Hold and a consensus target price of $43.77.

Cogent Communications (NASDAQ:CCOI) traded down $0.10 during trading hours on Thursday, hitting $46.85. The stock had a trading volume of 426,000 shares, compared to its average volume of 334,568. The firm has a market capitalization of $2,157.59, a price-to-earnings ratio of 130.42, a P/E/G ratio of 12.25 and a beta of 0.58. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22. Cogent Communications has a 1-year low of $37.85 and a 1-year high of $54.85.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). Cogent Communications had a negative return on equity of 23.86% and a net margin of 3.37%. The business had revenue of $123.00 million for the quarter, compared to analyst estimates of $123.60 million. During the same period in the prior year, the company earned $0.08 EPS. The company’s revenue was up 8.8% on a year-over-year basis. analysts expect that Cogent Communications will post 0.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Friday, November 17th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.10%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, November 16th. Cogent Communications’s payout ratio is presently 533.33%.

In other news, Director Marc Montagner sold 5,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $47.00, for a total value of $235,000.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at $1,880,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Timothy G. Oneill sold 2,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $48.75, for a total value of $97,500.00. Following the completion of the sale, the vice president now owns 39,052 shares in the company, valued at $1,903,785. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,250 shares of company stock worth $708,935. 9.48% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Flinton Capital Management LLC grew its stake in shares of Cogent Communications by 63.4% in the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock valued at $106,000 after buying an additional 1,024 shares in the last quarter. Sei Investments Co. boosted its holdings in Cogent Communications by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after purchasing an additional 670 shares during the last quarter. Pacad Investment Ltd. purchased a new position in Cogent Communications in the second quarter valued at about $140,000. PNC Financial Services Group Inc. lifted its holdings in Cogent Communications 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 last quarter. Finally, Riverhead Capital Management LLC lifted its holdings in Cogent Communications by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock worth $167,000 after buying an additional 1,663 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

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Cogent Communications 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.

Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

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