Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives $80.25 Average PT from Brokerages

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $80.25.

Separately, StockNews.com raised shares of Cogent Communications to a “sell” rating in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lewis H. Ferguson sold 956 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the sale, the director now owns 18,652 shares in the company, valued at $1,293,702.72. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,681 shares of company stock worth $840,878 in the last quarter. Corporate insiders own 11.40% of the company’s stock.

Institutional Investors Weigh In On Cogent Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in shares of Cogent Communications during the 3rd quarter worth $30,000. Quest Partners LLC acquired a new position in Cogent Communications during the 3rd quarter worth approximately $46,000. Hillsdale Investment Management Inc. bought a new position in Cogent Communications in the 4th quarter valued at approximately $46,000. Blue Trust Inc. grew its stake in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after buying an additional 218 shares during the last quarter. Finally, BankPlus Trust Department acquired a new position in shares of Cogent Communications during the fourth quarter worth $63,000. 92.45% of the stock is currently owned by institutional investors.

Cogent Communications Trading Up 0.1 %

Cogent Communications stock opened at $61.57 on Friday. The stock has a 50-day simple moving average of $74.21 and a 200 day simple moving average of $76.61. The stock has a market capitalization of $3.02 billion, a P/E ratio of 78.94 and a beta of 0.45. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications has a 52 week low of $50.80 and a 52 week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. Analysts expect that Cogent Communications will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a $1.005 dividend. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.02 annualized dividend and a yield of 6.53%. Cogent Communications’s payout ratio is -93.49%.

Cogent Communications Company Profile

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.