Raymond James Financial, Inc. Reaffirms “Underperform” Rating for Cogent Communications Holdings, Inc. (CCOI)

Cogent Communications Holdings, Inc. (NASDAQ:CCOI)‘s stock had its “underperform” rating reissued by equities researchers at Raymond James Financial, Inc. in a note issued to investors on Friday.

CCOI has been the subject of several other reports. Citigroup Inc. downgraded shares of Cogent Communications Holdings from a “neutral” rating to a “sell” rating in a research report on Thursday. BidaskClub downgraded shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Royal Bank Of Canada boosted their target price 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, August 7th. Wells Fargo & Company downgraded shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $46.00 to $48.00 in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Cogent Communications Holdings has an average rating of “Hold” and a consensus target price of $44.23.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The company had revenue of $123.00 million for the quarter, compared to analysts’ expectations of $123.60 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis.

ILLEGAL ACTIVITY WARNING: This story was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.com-unik.info/2017/11/03/raymond-james-financial-inc-reaffirms-underperform-rating-for-cogent-communications-holdings-inc-ccoi.html.

In related news, Director Steven D. Brooks sold 10,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $43.25, for a total transaction of $432,500.00. Following the completion of the transaction, the director now directly owns 26,400 shares in the company, valued at approximately $1,141,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $46.60, for a total transaction of $46,600.00. Following the transaction, the vice president now owns 41,052 shares of the company’s stock, valued at $1,913,023.20. The disclosure for this sale can be found here. Insiders sold 30,466 shares of company stock valued at $1,380,404 over the last 90 days. 9.48% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Cogent Communications Holdings by 3.5% during the 2nd quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock valued at $205,670,000 after purchasing an additional 172,987 shares during the last quarter. Renaissance Technologies LLC raised its stake in Cogent Communications Holdings by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock valued at $82,550,000 after purchasing an additional 245,100 shares during the last quarter. Jennison Associates LLC raised its stake in Cogent Communications Holdings by 13.1% during the 2nd quarter. Jennison Associates LLC now owns 1,867,749 shares of the technology company’s stock valued at $74,897,000 after purchasing an additional 215,940 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cogent Communications Holdings by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,133 shares of the technology company’s stock valued at $59,513,000 after purchasing an additional 150,328 shares during the last quarter. Finally, MIG Capital LLC raised its stake in Cogent Communications Holdings by 7.3% during the 2nd quarter. MIG Capital LLC now owns 1,425,000 shares of the technology company’s stock valued at $57,143,000 after purchasing an additional 97,160 shares during the last quarter. Hedge funds and other institutional investors own 93.02% 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.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

What are top analysts saying about Cogent Communications Holdings Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cogent Communications Holdings Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit