Zacks Research Brokers Increase Earnings Estimates for CCOI

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Cogent Communications in a research note issued on Monday, February 24th. Zacks Research analyst R. Department now expects that the technology company will post earnings of ($4.61) per share for the year, up from their previous forecast of ($4.65). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.55) per share. Zacks Research also issued estimates for Cogent Communications’ Q4 2024 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.11) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($3.88) EPS, Q1 2026 earnings at ($0.34) EPS, Q2 2026 earnings at ($0.38) EPS, Q3 2026 earnings at ($0.11) EPS, Q4 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.92) EPS.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%.

Separately, UBS Group began coverage on Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Price Performance

Shares of CCOI opened at $72.46 on Thursday. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications has a 1-year low of $50.80 and a 1-year high of $86.76. The stock has a market cap of $3.55 billion, a PE ratio of 92.90 and a beta of 0.40. The firm has a fifty day moving average price of $76.72 and a 200 day moving average price of $77.04.

Institutional Trading of Cogent Communications

Several hedge funds have recently modified their holdings of CCOI. CANADA LIFE ASSURANCE Co grew its holdings in Cogent Communications by 0.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company’s stock valued at $4,055,000 after purchasing an additional 156 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its position in shares of Cogent Communications by 0.5% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock worth $3,119,000 after purchasing an additional 185 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Cogent Communications by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock valued at $400,000 after buying an additional 212 shares in the last quarter. Blue Trust Inc. grew its holdings in Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after buying an additional 218 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Cogent Communications by 0.6% in the fourth quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock worth $2,611,000 after acquiring an additional 218 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.60, for a total value of $147,072.00. Following the completion of the sale, the executive now owns 49,542 shares in the company, valued at $3,794,917.20. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thaddeus Gerard Weed sold 4,800 shares of Cogent Communications stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $81.58, for a total value of $391,584.00. Following the completion of the sale, the chief financial officer now directly owns 88,500 shares in the company, valued at $7,219,830. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,440 shares of company stock valued at $1,057,910. 11.40% of the stock is owned by company insiders.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a yield of 5.55%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio (DPR) is presently 510.26%.

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.