Zacks Research Issues Pessimistic Estimate for CCOI Earnings

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Investment analysts at Zacks Research reduced their FY2028 earnings estimates for shares of Cogent Communications in a research report issued to clients and investors on Monday, July 20th. Zacks Research analyst Team now expects that the technology company will post earnings of ($2.26) per share for the year, down from their prior estimate of ($2.15). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.25) per share.

A number of other research analysts have also recently commented on CCOI. Royal Bank Of Canada decreased their price target on 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. Citigroup dropped their price objective on Cogent Communications from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Wall Street Zen upgraded Cogent Communications from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Wells Fargo & Company decreased their target price on Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $22.00 target price on shares of Cogent Communications in a report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and an average price target of $24.90.

Cogent Communications Stock Performance

Cogent Communications stock opened at $12.70 on Wednesday. The company has a market capitalization of $636.02 million, a PE ratio of -3.58 and a beta of 0.80. Cogent Communications has a fifty-two week low of $10.93 and a fifty-two week high of $50.37. The firm has a 50 day moving average price of $15.14 and a 200 day moving average price of $19.42.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Monday, May 4th. The technology company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.20. The firm had revenue of $239.19 million for the quarter, compared to analyst estimates of $241.31 million. Cogent Communications had a negative net margin of 17.53% and a negative return on equity of 842.48%. The business’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 posted ($1.09) EPS.

Cogent Communications Dividend Announcement

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

Insiders Place Their Bets

In related news, VP Henry W. Kilmer sold 2,400 shares of the business’s 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 transaction, the vice president owned 38,600 shares in the company, valued at approximately $656,586. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total value of $81,431.50. Following the completion of the transaction, the chief financial officer directly owned 197,900 shares in the company, valued at $3,322,741. This trade represents a 2.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in shares of Cogent Communications by 208.6% during the 1st quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock worth $27,000 after acquiring an additional 968 shares in the last quarter. Quarry LP acquired a new position in Cogent Communications in the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Cogent Communications in the fourth quarter valued at approximately $28,000. Hantz Financial Services Inc. increased its stake in Cogent Communications by 313.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Cogent Communications in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

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.