Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives $75.75 Average PT from Brokerages

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $75.75.

Several research analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group decreased their price target on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, May 9th.

Cogent Communications Stock Performance

CCOI stock traded down $0.30 during midday trading on Friday, reaching $50.29. 220,758 shares of the company's stock traded hands, compared to its average volume of 507,948. The company has a 50-day moving average price of $49.39 and a two-hundred day moving average price of $62.60. The company has a debt-to-equity ratio of 13.89, a quick ratio of 1.49 and a current ratio of 1.49. Cogent Communications has a 52 week low of $43.65 and a 52 week high of $86.76. The firm has a market capitalization of $2.48 billion, a PE ratio of -12.54 and a beta of 0.73.

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 during the quarter, compared to the consensus estimate of $250.81 million. Cogent Communications had a negative return on equity of 70.29% and a negative net margin of 18.76%. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) EPS. As a group, equities analysts anticipate that Cogent Communications will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Thursday, May 22nd were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 8.03%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Thursday, May 22nd. Cogent Communications's dividend payout ratio is presently -100.75%.

Insider Activity at Cogent Communications

In other Cogent Communications news, Director Lewis H. Ferguson sold 1,100 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $47.57, for a total value of $52,327.00. Following the completion of the sale, the director directly owned 18,904 shares in the company, valued at $899,263.28. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $48.04, for a total transaction of $235,396.00. Following the completion of the sale, the chief financial officer owned 98,000 shares of the company's stock, valued at $4,707,920. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 445,500 shares of company stock valued at $21,285,069 in the last quarter. 11.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cogent Communications

Institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC purchased a new position in shares of Cogent Communications during the 1st quarter valued at $36,000. Hillsdale Investment Management Inc. bought a new position in Cogent Communications during the 4th quarter valued at about $46,000. Itau Unibanco Holding S.A. grew its holdings in Cogent Communications by 58.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock valued at $48,000 after purchasing an additional 229 shares during the last quarter. Resources Management Corp CT ADV purchased a new stake in Cogent Communications in the 1st quarter valued at about $48,000. Finally, SVB Wealth LLC purchased a new stake in Cogent Communications in the 1st quarter valued at about $58,000. 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.