Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $75.14.

A number of equities research analysts recently weighed in on the company. KeyCorp reduced their price objective on Cogent Communications from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. StockNews.com lowered Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Bank of America lowered Cogent Communications from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $75.00 in a research report on Thursday, March 7th. TheStreet upgraded Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. Finally, TD Cowen reduced their price objective on Cogent Communications from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 10th.

Cogent Communications Trading Up 1.1 %

Shares of CCOI opened at $59.14 on Wednesday. Cogent Communications has a 52-week low of $57.11 and a 52-week high of $86.00. The business’s fifty day moving average is $62.72 and its 200-day moving average is $69.02. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 2.34 and a beta of 0.39.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.79. Cogent Communications had a negative return on equity of 24.63% and a net margin of 114.09%. The company had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. Equities analysts anticipate that Cogent Communications will post -4.54 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.975 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.97. This represents a $3.90 annualized dividend and a yield of 6.59%. Cogent Communications’s payout ratio is presently 15.45%.

Insiders Place Their Bets

In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 1,640 shares of Cogent Communications stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $57.79, for a total transaction of $94,775.60. Following the transaction, the director now directly owns 10,091 shares of the company’s stock, valued at approximately $583,158.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sheryl Lynn Kennedy sold 1,640 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $57.79, for a total value of $94,775.60. Following the transaction, the director now directly owns 10,091 shares of the company’s stock, valued at approximately $583,158.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lewis H. Ferguson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $58.90, for a total value of $117,800.00. Following the completion of the transaction, the director now directly owns 17,623 shares in the company, valued at $1,037,994.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,960 shares of company stock valued at $7,854,573. 11.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ellsworth Advisors LLC boosted its holdings in Cogent Communications by 2.5% in the fourth quarter. Ellsworth Advisors LLC now owns 5,932 shares of the technology company’s stock worth $451,000 after acquiring an additional 147 shares in the last quarter. Arizona State Retirement System boosted its holdings in Cogent Communications by 1.3% in the third quarter. Arizona State Retirement System now owns 12,379 shares of the technology company’s stock worth $766,000 after acquiring an additional 156 shares in the last quarter. Truist Financial Corp boosted its holdings in Cogent Communications by 5.9% in the fourth quarter. Truist Financial Corp now owns 4,221 shares of the technology company’s stock worth $321,000 after acquiring an additional 237 shares in the last quarter. Covestor Ltd boosted its holdings in Cogent Communications by 17.2% in the first quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock worth $123,000 after acquiring an additional 276 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Cogent Communications by 20.0% in the third quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock worth $111,000 after acquiring an additional 300 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.