Analysts Set Cogent Communications Holdings, Inc. (NASDAQ:CCOI) PT at $75.75

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $75.75.

Several equities analysts have weighed in on the company. The Goldman Sachs Group cut their price target on Cogent Communications from $71.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, May 9th. UBS Group dropped their target price on Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 9th.

Cogent Communications Price Performance

NASDAQ CCOI traded down $0.64 during trading on Friday, hitting $49.28. 417,489 shares of the stock traded hands, compared to its average volume of 506,857. The company has a market capitalization of $2.43 billion, a P/E ratio of -12.29 and a beta of 0.73. The firm has a 50-day simple moving average of $49.10 and a 200-day simple moving average of $62.14. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 13.89. Cogent Communications has a 12-month low of $43.65 and a 12-month high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.04). The firm had revenue of $247.05 million for the quarter, compared to analysts' expectations of $250.81 million. Cogent Communications had a negative net margin of 18.76% and a negative return on equity of 70.29%. The business's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.38) EPS. As a group, analysts predict that Cogent Communications will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd were issued a $1.01 dividend. This is a boost from Cogent Communications's previous quarterly dividend of $1.01. The ex-dividend date was Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 8.20%. Cogent Communications's payout ratio is -100.75%.

Insider Activity at Cogent Communications

In related news, CEO Dave Schaeffer sold 80,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $47.78, for a total transaction of $3,822,400.00. Following the completion of the transaction, the chief executive officer owned 3,701,721 shares in the company, valued at $176,868,229.38. The trade was a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $47.95, for a total value of $115,080.00. Following the transaction, the vice president owned 38,600 shares of the company's stock, valued at approximately $1,850,870. The trade was a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 445,500 shares of company stock worth $21,285,069 in the last quarter. 11.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cogent Communications

A number of large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co raised its position in shares of Cogent Communications by 0.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company's stock worth $4,055,000 after acquiring an additional 156 shares in the last quarter. Royce & Associates LP raised its position in shares of Cogent Communications by 0.6% in the 4th 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 in the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Cogent Communications by 58.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock worth $48,000 after acquiring an additional 229 shares in the last quarter. Ipswich Investment Management Co. Inc. raised its position in shares of Cogent Communications by 0.6% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 42,739 shares of the technology company's stock worth $2,620,000 after acquiring an additional 260 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Cogent Communications by 5.8% in the 4th quarter. Franklin Resources Inc. now owns 4,835 shares of the technology company's stock worth $373,000 after acquiring an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

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.