Cogent Communications (CCOI) to Release Quarterly Earnings on Thursday

Cogent Communications (NASDAQ:CCOI) will be announcing its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.80) per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.79. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. The firm had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. On average, analysts expect Cogent Communications to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Cogent Communications Trading Up 1.1 %

Shares of NASDAQ:CCOI opened at $64.90 on Thursday. The business’s 50 day moving average price is $67.25 and its 200-day moving average price is $69.55. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 2.43 and a beta of 0.39. Cogent Communications has a 1 year low of $57.35 and a 1 year high of $86.00.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th were issued a $0.965 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.86 dividend on an annualized basis and a yield of 5.95%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.96. Cogent Communications’s dividend payout ratio (DPR) is presently 14.43%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TheStreet raised Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $75.00 in a research note on Thursday, March 7th. KeyCorp raised their target price on Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. cut their price objective on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, TD Cowen raised their price objective on Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Cogent Communications presently has an average rating of “Hold” and an average price target of $77.57.

Insider Activity

In other news, CEO Dave Schaeffer sold 8,826 shares of Cogent Communications stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $72.55, for a total value of $640,326.30. Following the completion of the transaction, the chief executive officer now owns 4,815,764 shares in the company, valued at approximately $349,383,678.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total transaction of $176,328.00. Following the completion of the sale, the vice president now owns 41,000 shares in the company, valued at $3,012,270. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dave Schaeffer sold 8,826 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $72.55, for a total value of $640,326.30. Following the sale, the chief executive officer now owns 4,815,764 shares of the company’s stock, valued at approximately $349,383,678.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,320 shares of company stock worth $4,669,997. 11.00% of the stock is currently owned by company insiders.

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.