What is Zacks Research’s Forecast for CCOI FY2028 Earnings?

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Zacks Research lowered their FY2028 earnings per share (EPS) estimates for Cogent Communications in a research report issued on Tuesday, June 23rd. Zacks Research analyst Team now anticipates that the technology company will post earnings of ($2.15) per share for the year, down from their previous forecast of ($1.82). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.25) per share.

Several other brokerages have also issued reports on CCOI. TD Cowen reaffirmed a “buy” rating on shares of Cogent Communications in a research note on Monday. Royal Bank Of Canada decreased their price target on shares of Cogent Communications from $22.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 6th. UBS Group lowered their price objective on shares of Cogent Communications from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Citigroup cut their price objective on shares of Cogent Communications from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company reduced their target price on shares of Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cogent Communications presently has a consensus rating of “Hold” and a consensus target price of $24.90.

Cogent Communications Trading Down 4.5%

Shares of NASDAQ CCOI opened at $13.52 on Thursday. The stock has a market cap of $677.08 million, a price-to-earnings ratio of -3.81 and a beta of 0.77. Cogent Communications has a 1-year low of $13.33 and a 1-year high of $54.37. The stock’s 50-day moving average is $18.48 and its 200 day moving average is $20.71.

Cogent Communications (NASDAQ:CCOI) last posted 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 firm had revenue of $239.19 million during the quarter, compared to analysts’ expectations of $241.31 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 17.53%.The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.09) EPS.

Institutional Trading of Cogent Communications

Several large investors have recently modified their holdings of the business. Federation des caisses Desjardins du Quebec increased its holdings in Cogent Communications by 17.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,850 shares of the technology company’s stock valued at $61,000 after purchasing an additional 425 shares during the period. Empowered Funds LLC grew its position in shares of Cogent Communications by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,466 shares of the technology company’s stock worth $335,000 after buying an additional 510 shares during the last quarter. Quarry LP bought a new stake in shares of Cogent Communications in the 3rd quarter worth approximately $27,000. Farther Finance Advisors LLC increased its stake in shares of Cogent Communications by 56.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,092 shares of the technology company’s stock valued at $45,000 after buying an additional 756 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Cogent Communications by 208.6% during the first quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock valued at $27,000 after buying an additional 968 shares during the period. 92.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.01, for a total transaction of $40,824.00. Following the completion of the sale, the vice president owned 38,600 shares of the company’s stock, valued at $656,586. This represents a 5.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $16.79, for a total transaction of $81,431.50. Following the completion of the sale, the chief financial officer directly owned 197,900 shares in the company, valued at approximately $3,322,741. This trade represents a 2.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.20% of the company’s stock.

Cogent Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, May 18th. Cogent Communications’s dividend payout ratio is currently -2.25%.

Cogent Communications Company Profile

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.