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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $77.14.

A number of equities research analysts have commented on CCOI shares. Royal Bank of Canada restated an “outperform” rating and set a $74.00 target price on shares of Cogent Communications in a research note on Tuesday, September 3rd. The Goldman Sachs Group lifted their target price on shares of Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their price target on Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. KeyCorp boosted their price objective on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, Citigroup increased their target price on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 19th.

Insider Activity at Cogent Communications

In other Cogent Communications news, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the completion of the transaction, the chief executive officer now owns 4,373,038 shares in the company, valued at $318,444,627.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CRO James Bubeck sold 1,920 shares of the firm’s 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 completion of the sale, the executive now directly owns 50,982 shares in the company, valued at $3,557,014.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dave Schaeffer sold 60,000 shares of Cogent Communications stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the transaction, the chief executive officer now directly owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. The trade was 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 sold 64,870 shares of company stock valued at $4,716,057. 11.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cogent Communications

Several institutional investors have recently made changes to their positions in CCOI. Goldman Sachs Group Inc. raised its position in Cogent Communications by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 218,174 shares of the technology company’s stock worth $16,594,000 after purchasing an additional 24,185 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Cogent Communications in the fourth quarter worth approximately $405,000. BTC Capital Management Inc. bought a new stake in shares of Cogent Communications during the 1st quarter worth approximately $336,000. Capital Insight Partners LLC boosted its holdings in Cogent Communications by 6.7% during the 1st quarter. Capital Insight Partners LLC now owns 62,138 shares of the technology company’s stock valued at $4,059,000 after acquiring an additional 3,927 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Cogent Communications by 1.1% in the 1st quarter. BNP Paribas Financial Markets now owns 38,040 shares of the technology company’s stock valued at $2,485,000 after acquiring an additional 419 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Trading Down 0.5 %

Shares of CCOI stock opened at $81.88 on Friday. Cogent Communications has a 1 year low of $50.80 and a 1 year high of $86.00. The firm has a fifty day moving average price of $75.44 and a 200-day moving average price of $66.34. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 3.24 and a beta of 0.41. The company has a debt-to-equity ratio of 4.43, a current ratio of 2.20 and a quick ratio of 2.20.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The business had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $264.32 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Cogent Communications will post -4.46 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.985 per share. This represents a $3.94 annualized dividend and a dividend yield of 4.81%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, August 22nd. Cogent Communications’s dividend payout ratio is 15.61%.

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.