Cogent Communications (CCOI) News Today

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) shares have moved lower after the company reported disappointing Q2 earnings and hit new lows, though the impact has been partly offset by an increased dividend and a new buyback plan. Key developments include:

• Positive Sentiment: Cogent raised its quarterly dividend to $1.015 per share, up 0.5% from the prior payout, representing a 10.3% yield. Cogent Communications Holdings, Inc. Raises Dividend to $1.02 Per Share
• Positive Sentiment: Board approved a $100 million stock repurchase program, authorizing repurchases of up to 4.6% of outstanding shares. Board Approves $100 Million Stock Buyback Program
• Positive Sentiment: Declared a quarterly dividend of $1.015 per share for shareholders of record August 21, payable September 5, representing an 11.5% yield.
• Positive Sentiment: PR Newswire reports Q2 service revenue of $246.2 million, wavelength revenue up 27.2% sequentially and 149.8% year-over-year; also increased its dividend and boosted its buyback by $100 million. Cogent Communications Reports Second Quarter Results, Increases Dividend and Buyback
• Neutral Sentiment: Zacks published an overview of Q2 key metrics versus Wall Street estimates, offering a detailed look at performance drivers and variances. Cogent Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
• Neutral Sentiment: Zacks reports a Q2 loss of $1.21 per share (versus a $0.93 expected loss) but notes that revenue slightly exceeded estimates. Cogent Communications Reports Q2 Loss, Beats Revenue Estimates
• Negative Sentiment: Shares hit a new one-year low following the wider-than-expected Q2 EPS loss. Cogent Communications Hits New 1-Year Low After Earnings Miss
• Negative Sentiment: Royal Bank of Canada reaffirmed its “sector perform” rating but cut the price target to $40 from $74. RBC Reaffirms Rating, Lowers Price Target
• Negative Sentiment: Shares reached a 52-week low after missing Q2 earnings expectations. Cogent Communications Reaches New 52-Week Low After Earnings Miss
• Negative Sentiment: Q2 results showed a loss of $1.21 per share versus a loss of $0.93 expected, revenue down 5.4% year-over-year, and a negative net margin of 18.8%. View Press Release