Cogent Communications Holdings (NASDAQ:CCOI) Earns News Impact Score of 0.12
Media coverage about Cogent Communications Holdings (NASDAQ:CCOI) has been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Cogent Communications Holdings earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave news stories about the technology company an impact score of 46.0315434936138 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the media headlines that may have effected Accern’s analysis:
- Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives Average Recommendation of “Hold” from Brokerages (americanbankingnews.com)
- IHS Markit Score downgrades Cogent Communications Holdings Inc to 32 out of 100, ranking positively in only one out of three available IHS Markit categories. (finance.yahoo.com)
- Cogent Communications Holdings’ (CCOI) Hold Rating Reaffirmed at Cowen and Company (lazeresportes.com)
- Towerstream (TWER) versus Cogent Communications Holdings (CCOI) Head to Head Contrast (americanbankingnews.com)
- Cogent Communications Holdings, (NASDAQ:CCOI) Sees Unusual Trading Volume in Its Shares (overnewsmagazine.com)
Cogent Communications Holdings (CCOI) traded down 0.91% during trading on Friday, hitting $43.65. The company had a trading volume of 225,363 shares. The company has a market cap of $1.95 billion, a PE ratio of 124.71 and a beta of 0.74. Cogent Communications Holdings has a 12 month low of $34.23 and a 12 month high of $45.25. The company’s 50 day moving average price is $41.92 and its 200-day moving average price is $41.70.
Cogent Communications Holdings (NASDAQ:CCOI) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. Equities analysts expect that Cogent Communications Holdings will post $0.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders 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 dividend yield of 4.22%. The ex-dividend date is Wednesday, August 16th. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio is 488.89%.
A number of research firms recently issued reports on CCOI. Cowen and Company lowered Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Off Wall Street began coverage on Cogent Communications Holdings in a report on Monday, July 31st. They issued a “sell” rating and a $29.00 target price for the company. Citigroup Inc. lifted their target price on Cogent Communications Holdings from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Finally, BidaskClub cut Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.45.
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In related news, Director Steven D. Brooks sold 10,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.25, for a total transaction of $432,500.00. Following the sale, the director now owns 26,400 shares in the company, valued at $1,141,800. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 2,250 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $41.20, for a total transaction of $92,700.00. Following the sale, the chief financial officer now owns 77,150 shares in the company, valued at approximately $3,178,580. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,433 shares of company stock worth $1,147,646. 9.48% of the stock is owned by company insiders.
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.
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