Zacks Research Has Bullish Estimate for CCOI FY2024 Earnings

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Equities research analysts at Zacks Research increased their FY2024 earnings per share estimates for Cogent Communications in a research note issued to investors on Monday, February 24th. Zacks Research analyst R. Department now forecasts that the technology company will earn ($4.61) per share for the year, up from their prior estimate of ($4.65). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.55) per share. Zacks Research also issued estimates for Cogent Communications’ Q4 2024 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.11) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($3.88) EPS, Q1 2026 earnings at ($0.34) EPS, Q2 2026 earnings at ($0.38) EPS, Q3 2026 earnings at ($0.11) EPS, Q4 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.92) EPS.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. The business had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%.

Separately, UBS Group started coverage on Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.25.

Cogent Communications Stock Up 0.8 %

Cogent Communications stock opened at $73.07 on Thursday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 93.68 and a beta of 0.40. Cogent Communications has a 52 week low of $50.80 and a 52 week high of $86.76. The business’s 50-day moving average price is $76.64 and its 200 day moving average price is $77.05. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $1.005 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a yield of 5.50%. Cogent Communications’s dividend payout ratio (DPR) is presently 510.26%.

Insiders Place Their Bets

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $81.42, for a total transaction of $156,326.40. Following the completion of the sale, the executive now owns 51,462 shares of the company’s stock, valued at $4,190,036.04. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Henry W. Kilmer sold 4,800 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the sale, the vice president now directly owns 33,800 shares of the company’s stock, valued at approximately $2,555,618. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,440 shares of company stock valued at $1,057,910 over the last quarter. 11.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cogent Communications

Institutional investors have recently modified their holdings of the company. Intech Investment Management LLC grew its stake in shares of Cogent Communications by 85.7% in the third quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company’s stock valued at $1,284,000 after buying an additional 7,803 shares in the last quarter. Consolidated Planning Corp acquired a new stake in shares of Cogent Communications in the third quarter valued at $630,000. PEAK6 Investments LLC acquired a new stake in shares of Cogent Communications in the third quarter valued at $1,720,000. Citigroup Inc. grew its stake in shares of Cogent Communications by 56.8% in the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock valued at $4,297,000 after buying an additional 20,510 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Cogent Communications by 136.5% in the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock valued at $11,025,000 after buying an additional 83,816 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

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.