Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have received a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $77.14.

A number of research analysts recently issued reports on CCOI shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. KeyCorp boosted their price objective on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Citigroup lifted their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. TD Cowen increased their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, August 12th.

Cogent Communications Stock Performance

NASDAQ CCOI opened at $79.04 on Wednesday. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.20. The company has a market cap of $3.87 billion, a P/E ratio of 101.33 and a beta of 0.40. The stock has a 50-day moving average of $77.79 and a two-hundred day moving average of $67.88. Cogent Communications has a 1-year low of $50.80 and a 1-year high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.34) by $0.01. The business had revenue of $257.20 million during the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.13) earnings per share. As a group, analysts anticipate that Cogent Communications will post -4.46 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.995 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 5.04%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s payout ratio is currently 510.26%.

Insider Transactions at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total transaction of $133,958.40. Following the transaction, the executive now directly owns 50,982 shares of the company’s stock, valued at approximately $3,557,014.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Sheryl Lynn Kennedy sold 1,350 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.58, for a total value of $108,783.00. Following the transaction, the director now owns 10,318 shares of the company’s stock, valued at approximately $831,424.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $69.77, for a total value of $133,958.40. Following the sale, the executive now directly owns 50,982 shares of the company’s stock, valued at approximately $3,557,014.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,500 shares of company stock worth $5,008,175. Insiders own 11.40% of the company’s stock.

Institutional Investors Weigh In On Cogent Communications

A number of hedge funds have recently added to or reduced their stakes in CCOI. EntryPoint Capital LLC acquired a new position in Cogent Communications during the 1st quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in shares of Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after buying an additional 272 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after acquiring an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Cogent Communications by 127.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after acquiring an additional 441 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Cogent Communications during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

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.