KeyCorp Raises Earnings Estimates for Cogent Communications

Key Points

• KeyCorp raised its FY2026 EPS estimate to a loss of $3.15 per share from a projected loss of $3.39, while keeping its “Sector Weight” rating.
• Cogent reported a quarterly loss of $0.62 per share, beating expectations for a $0.77 loss, but revenue of $231.2 million fell short of estimates and declined 4.4% year over year.
• Analyst views remain mixed: MarketBeat reports a consensus “Hold” rating, with two Buy, six Hold and two Sell recommendations.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) - Investment analysts at KeyCorp raised their FY2026 earnings estimates for shares of Cogent Communications in a report released on Thursday, November 5th. KeyCorp analyst B. Nispel now anticipates that the technology company will earn ($3.15) per share for the year, up from their prior forecast of ($3.39). KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for Cogent Communications' current full-year earnings is ($3.13) per share. KeyCorp also issued estimates for Cogent Communications' Q4 2026 earnings at ($0.90) EPS, Q1 2027 earnings at ($0.89) EPS, Q2 2027 earnings at ($0.92) EPS, Q3 2027 earnings at ($0.85) EPS, Q4 2027 earnings at ($0.80) EPS and FY2027 earnings at ($3.46) EPS.

A number of other research firms have also weighed in on CCOI. Wells Fargo & Company dropped their target price on shares of Cogent Communications from $18.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, August 7th. TD Cowen reduced their price target on Cogent Communications from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Citigroup lowered their price target on Cogent Communications from $11.50 to $5.20 and set a "neutral" rating for the company in a research report on Monday. UBS Group set a $9.00 price target on Cogent Communications in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. cut Cogent Communications from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $22.00 to $9.00 in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Cogent Communications has a consensus rating of "Hold" and an average price target of $18.24.

Cogent Communications Trading Up 11.8%

Shares of NASDAQ:CCOI opened at $4.45 on Tuesday. The company has a market cap of $227.93 million, a price-to-earnings ratio of -6.27 and a beta of 0.80. The company has a 50-day moving average price of $8.14 and a 200-day moving average price of $15.26. Cogent Communications has a 12 month low of $3.56 and a 12 month high of $28.70.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.77) by $0.15. The firm had revenue of $231.20 million during the quarter, compared to the consensus estimate of $234.57 million. During the same period last year, the business earned ($0.87) EPS. Cogent Communications's revenue was down 4.4% on a year-over-year basis.

Hedge Funds Weigh In On Cogent Communications

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in Cogent Communications by 208.6% in the first quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company's stock worth $27,000 after buying an additional 968 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Cogent Communications during the 2nd quarter worth approximately $26,000. Nykredit A S purchased a new position in shares of Cogent Communications during the 2nd quarter worth approximately $32,000. Integrated Wealth Concepts LLC bought a new position in shares of Cogent Communications in the 2nd quarter worth approximately $53,000. Finally, Farther Finance Advisors LLC raised its position in shares of Cogent Communications by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,855 shares of the technology company's stock worth $61,000 after acquiring an additional 3,769 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Insider Buying and Selling

In other news, CFO Thaddeus Weed sold 4,850 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.37, for a total value of $45,444.50. Following the completion of the sale, the chief financial officer directly owned 193,050 shares of the company's stock, valued at approximately $1,808,878.50. This trade represents a 2.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.20% of the company's stock.

Key Headlines Impacting Cogent Communications

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: KeyCorp raised its FY2026 EPS forecast to a loss of $3.15 per share from a loss of $3.39, indicating a smaller expected loss for that year. The firm retained its “Sector Weight” rating. Cogent Communications coverage
• Negative Sentiment: KeyCorp cut its FY2027 EPS forecast to a loss of $3.46 per share from $3.07, and lowered estimates for each quarter from Q4 2026 through Q4 2027. The broad revisions signal expectations for deeper losses ahead. Cogent Communications coverage
• Negative Sentiment: Citigroup cut its price target to $5.20 from $11.50 while maintaining a “neutral” rating. The new target was still above the cited $4.45 share price, but the substantial reduction reflects a less favorable valuation view. Citigroup recommendations

Cogent Communications Company Profile

Cogent Communications Holdings, Inc NASDAQ: CCOI is a telecommunications company that provides high-speed Internet connectivity and data transport services to businesses, telecommunications carriers, content providers, government agencies and educational institutions. The company operates a global, facilities-based fiber-optic network and is recognized as a Tier 1 Internet service provider.

Cogent's offerings include dedicated Internet access, IP transit, Ethernet and other private network connectivity services.

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