Cogent Communications Holdings, Inc. (NASDAQ:CCOI) to Post Q4 2017 Earnings of $0.10 Per Share, William Blair Forecasts

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – William Blair decreased their Q4 2017 earnings per share (EPS) estimates for Cogent Communications Holdings in a report released on Thursday. William Blair analyst J. Breen now anticipates that the technology company will earn $0.10 per share for the quarter, down from their previous forecast of $0.11. William Blair also issued estimates for Cogent Communications Holdings’ FY2018 earnings at $0.56 EPS.

Several other analysts also recently weighed in on CCOI. Cowen and Company restated a “hold” rating and set a $46.00 price objective on shares of Cogent Communications Holdings in a research report on Friday, August 4th. BidaskClub downgraded shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Royal Bank Of Canada boosted their price objective on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Deutsche Bank AG restated a “buy” rating and set a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $42.67.

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Cogent Communications Holdings (NASDAQ CCOI) traded up 0.521% on Monday, hitting $43.425. 66,088 shares of the company’s stock were exchanged. Cogent Communications Holdings has a 12-month low of $34.23 and a 12-month high of $45.25. The company has a market cap of $1.94 billion, a PE ratio of 127.721 and a beta of 0.74. The company’s 50-day moving average price is $41.36 and its 200-day moving average price is $41.64.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. The company had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.46 dividend. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.84 annualized dividend and a yield of 4.26%. Cogent Communications Holdings’s dividend payout ratio is 488.89%.

In related news, Director Tim Weingarten sold 2,383 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $40.15, for a total value of $95,677.45. Following the completion of the sale, the director now owns 19,652 shares in the company, valued at approximately $789,027.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $40.25, for a total transaction of $40,250.00. Following the completion of the sale, the vice president now owns 43,052 shares of the company’s stock, valued at approximately $1,732,843. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,433 shares of company stock valued at $1,147,646. 9.48% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CCOI. LS Investment Advisors LLC increased its stake in Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock valued at $111,000 after buying an additional 1,095 shares during the period. Glen Harbor Capital Management LLC increased its stake in Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock valued at $122,000 after buying an additional 756 shares during the period. Sei Investments Co. increased its stake in Cogent Communications Holdings by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after buying an additional 670 shares during the period. Elkfork Partners LLC increased its stake in Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock valued at $148,000 after buying an additional 918 shares during the period. Finally, Pacad Investment Ltd. acquired a new stake in Cogent Communications Holdings during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Earnings History and Estimates for Cogent Communications Holdings (NASDAQ:CCOI)

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