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

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $75.00.

Several equities analysts recently issued reports on CCOI shares. KeyCorp dropped their price target 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. TD Cowen increased their price target on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group raised their target price on shares of Cogent Communications from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Cogent Communications from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $74.00 price objective on shares of Cogent Communications in a research note on Monday, July 29th.

Insider Activity

In other Cogent Communications news, CEO Dave Schaeffer sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $59.44, for a total value of $2,972,000.00. Following the transaction, the chief executive officer now directly owns 4,553,038 shares of the company’s stock, valued at $270,632,578.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cogent Communications news, CEO Dave Schaeffer sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $59.44, for a total value of $2,972,000.00. Following the sale, the chief executive officer now owns 4,553,038 shares in the company, valued at approximately $270,632,578.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thaddeus Gerard Weed sold 2,400 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $52.60, for a total value of $126,240.00. Following the completion of the sale, the chief financial officer now owns 93,300 shares in the company, valued at approximately $4,907,580. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,440 shares of company stock worth $9,828,016. Insiders own 11.40% of the company’s stock.

Hedge Funds Weigh In On Cogent Communications

A number of large investors have recently made changes to their positions in CCOI. EntryPoint Capital LLC acquired a new position in Cogent Communications in the first quarter valued at $26,000. SRS Capital Advisors Inc. grew its holdings in Cogent Communications by 313.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock valued at $38,000 after purchasing an additional 383 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Cogent Communications by 109.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock worth $48,000 after purchasing an additional 333 shares during the period. Covestor Ltd boosted its stake in shares of 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 during the period. Finally, Headlands Technologies LLC bought a new stake in Cogent Communications during the 1st quarter valued at approximately $136,000. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Performance

NASDAQ CCOI opened at $71.49 on Monday. Cogent Communications has a fifty-two week low of $50.80 and a fifty-two week high of $86.00. 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 capitalization of $3.50 billion, a P/E ratio of 2.83 and a beta of 0.41. The stock has a 50-day simple moving average of $60.03 and a two-hundred day simple moving average of $64.94.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.19). The company had revenue of $266.17 million during the quarter, compared to analysts’ expectations of $274.13 million. Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. On average, equities analysts forecast that Cogent Communications will post -4.81 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.985 per share. This represents a $3.94 annualized dividend and a yield of 5.51%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, August 22nd. Cogent Communications’s dividend payout ratio is currently 15.45%.

About Cogent Communications

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.