Cogent Communications Holdings, Inc. (CCOI) To Go Ex-Dividend on May 18th

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) declared a quarterly dividend on Friday, May 1st. Investors of record on Monday, May 18th will be paid a dividend of 0.02 per share by the technology company on Tuesday, June 2nd. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, May 18th.

Cogent Communications has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 14 years. Cogent Communications has a dividend payout ratio of -3.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Cogent Communications to earn ($3.30) per share next year, which means the company may not be able to cover its $0.08 annual dividend with an expected future payout ratio of -2.4%.

Cogent Communications Trading Up 2.3%

NASDAQ CCOI opened at $16.48 on Friday. The business’s 50-day moving average price is $20.16 and its two-hundred day moving average price is $22.43. Cogent Communications has a 12 month low of $14.82 and a 12 month high of $54.37. The firm has a market capitalization of $825.29 million, a PE ratio of -4.64 and a beta of 0.85.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Monday, May 4th. The technology company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.20. The company had revenue of $239.19 million during the quarter, compared to the consensus estimate of $241.31 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 17.53%.The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned ($1.09) earnings per share. As a group, analysts forecast that Cogent Communications will post -3.9 earnings per share for the current fiscal year.

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.