Cogent Communications Holdings, Inc. (CCOI) Receives Average Rating of “Hold” from Brokerages
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.45.
Several equities research analysts have recently commented on CCOI shares. Deutsche Bank AG reissued a “buy” rating and issued a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a report on Friday, July 14th. BidaskClub cut Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research cut Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Royal Bank Of Canada increased their price target on Cogent Communications Holdings from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Off Wall Street began coverage on Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 price target on the stock.
In other Cogent Communications Holdings news, CFO Thaddeus Gerard Weed sold 2,250 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $43.51, for a total transaction of $97,897.50. Following the transaction, the chief financial officer now owns 72,650 shares in the company, valued at approximately $3,161,001.50. 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 the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.95, for a total value of $41,950.00. Following the transaction, the vice president now owns 42,052 shares in the company, valued at approximately $1,764,081.40. 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 in the last quarter. Company insiders own 9.48% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CCOI. BlackRock Inc. increased its position in Cogent Communications Holdings by 125,208.8% during the 1st quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock worth $213,356,000 after buying an additional 4,952,008 shares during the period. Copeland Capital Management LLC bought a new position in Cogent Communications Holdings during the 2nd quarter worth $10,759,000. First Trust Advisors LP increased its position in Cogent Communications Holdings by 23.0% during the 2nd quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock worth $56,685,000 after buying an additional 264,597 shares during the period. Renaissance Technologies LLC increased its position in Cogent Communications Holdings by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock worth $82,550,000 after buying an additional 245,100 shares during the period. Finally, River Road Asset Management LLC bought a new position in Cogent Communications Holdings during the 2nd quarter worth $8,800,000. Hedge funds and other institutional investors own 93.48% of the company’s stock.
Shares of Cogent Communications Holdings (NASDAQ:CCOI) traded down 2.30% during trading on Friday, reaching $48.90. 375,396 shares of the company were exchanged. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 139.71 and a beta of 0.71. Cogent Communications Holdings has a one year low of $34.23 and a one year high of $50.25. The company has a 50 day moving average price of $44.45 and a 200-day moving average price of $42.31.
Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Equities analysts predict that Cogent Communications Holdings will post $0.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a dividend of $0.46 per share. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.84 annualized dividend and a yield of 3.76%. Cogent Communications Holdings’s dividend payout ratio (DPR) is presently 511.11%.
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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