Brokerages forecast that Cogent Communications Holdings Inc (NASDAQ:CCOI) will post sales of $132.22 million for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Cogent Communications’ earnings, with the lowest sales estimate coming in at $131.30 million and the highest estimate coming in at $133.57 million. Cogent Communications reported sales of $122.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.4%. The firm is scheduled to report its next earnings results before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that Cogent Communications will report full year sales of $525.21 million for the current financial year, with estimates ranging from $523.00 million to $526.79 million. For the next fiscal year, analysts forecast that the company will report sales of $568.54 million, with estimates ranging from $561.48 million to $572.77 million. Zacks’ sales averages are an average based on a survey of analysts that follow Cogent Communications.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.04). Cogent Communications had a negative return on equity of 22.38% and a net margin of 2.13%. The business had revenue of $129.30 million during the quarter, compared to analyst estimates of $131.13 million. During the same period last year, the company earned $0.10 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis.

Several research firms have recently weighed in on CCOI. Zacks Investment Research raised shares of Cogent Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 8th. BidaskClub lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. William Blair reaffirmed an “outperform” rating on shares of Cogent Communications in a report on Monday, October 8th. BTIG Research lowered shares of Cogent Communications from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Finally, Guggenheim reaffirmed a “hold” rating and set a $47.00 price objective on shares of Cogent Communications in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.88.

In other news, VP Timothy G. Oneill sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $51.95, for a total transaction of $51,950.00. Following the sale, the vice president now directly owns 40,652 shares of the company’s stock, valued at $2,111,871.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blake Bath sold 18,411 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $54.93, for a total transaction of $1,011,316.23. Following the sale, the director now directly owns 34,175 shares in the company, valued at $1,877,232.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,911 shares of company stock valued at $1,796,751. Company insiders own 10.21% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Cogent Communications by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 831,540 shares of the technology company’s stock valued at $44,404,000 after purchasing an additional 3,752 shares during the last quarter. BlackRock Inc. grew its stake in shares of Cogent Communications by 4.7% during the second quarter. BlackRock Inc. now owns 6,421,881 shares of the technology company’s stock valued at $342,928,000 after purchasing an additional 287,668 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Cogent Communications during the second quarter valued at approximately $1,466,000. Aperio Group LLC grew its stake in shares of Cogent Communications by 19.1% during the second quarter. Aperio Group LLC now owns 16,154 shares of the technology company’s stock valued at $863,000 after purchasing an additional 2,588 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Cogent Communications by 1,375.0% during the second quarter. PNC Financial Services Group Inc. now owns 139,980 shares of the technology company’s stock valued at $7,476,000 after purchasing an additional 130,490 shares during the last quarter. 90.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CCOI traded up $1.21 during mid-day trading on Thursday, hitting $51.17. 180,200 shares of the stock were exchanged, compared to its average volume of 264,913. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 131.68, a PEG ratio of 8.51 and a beta of 0.59. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of -6.22. Cogent Communications has a twelve month low of $35.75 and a twelve month high of $57.65.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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Earnings History and Estimates for Cogent Communications (NASDAQ:CCOI)

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