Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $80.25.

Several research analysts have issued reports on CCOI shares. Citigroup raised their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. KeyCorp boosted their price target on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price objective on Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. TD Cowen lifted their target price on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $74.00 price target on shares of Cogent Communications in a research note on Tuesday, September 3rd.

Insider Transactions at Cogent Communications

In other Cogent Communications news, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total value of $4,369,200.00. Following the sale, the chief executive officer now owns 4,373,038 shares of the company’s stock, valued at approximately $318,444,627.16. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lewis H. Ferguson sold 846 shares of Cogent Communications stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.76, for a total value of $69,168.96. Following the transaction, the director now directly owns 18,354 shares of the company’s stock, valued at $1,500,623.04. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,346 shares of company stock valued at $5,077,344 in the last ninety days. 11.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cogent Communications

Several hedge funds have recently added to or reduced their stakes in CCOI. Itau Unibanco Holding S.A. acquired a new stake in shares of Cogent Communications in the third quarter valued at approximately $30,000. EntryPoint Capital LLC purchased a new stake in Cogent Communications in the 1st quarter valued at approximately $26,000. Blue Trust Inc. grew its holdings in Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after buying an additional 272 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after buying an additional 226 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Cogent Communications in the third quarter worth $46,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Cogent Communications Stock Down 0.1 %

CCOI opened at $79.96 on Wednesday. Cogent Communications has a one year low of $50.80 and a one year high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a market capitalization of $3.92 billion, a P/E ratio of 102.51 and a beta of 0.40. The business’s 50-day simple moving average is $78.54 and its 200-day simple moving average is $68.40.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.01. The company had revenue of $257.20 million during the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.13) earnings per share. Analysts anticipate that Cogent Communications will post -4.54 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.995 dividend. The ex-dividend date is Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 4.98%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s dividend payout ratio (DPR) is 505.13%.

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.