SunTrust Banks Research Analysts Decrease Earnings Estimates for Cogent Communications Holdings, Inc. (CCOI)

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Investment analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for shares of Cogent Communications Holdings in a note issued to investors on Friday. SunTrust Banks analyst G. Miller now expects that the technology company will earn $0.41 per share for the year, down from their prior forecast of $0.51. SunTrust Banks has a “Hold” rating and a $43.00 price target on the stock. SunTrust Banks also issued estimates for Cogent Communications Holdings’ Q4 2017 earnings at $0.14 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.21 EPS and FY2018 earnings at $0.72 EPS.

Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cogent Communications Holdings had a negative return on equity of 23.86% and a net margin of 3.37%. The firm had revenue of $123.00 million for the quarter, compared to analysts’ expectations of $123.60 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year.

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CCOI has been the topic of several other reports. Deutsche Bank AG boosted their price target on shares of Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Monday, October 9th. Wells Fargo & Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $46.00 to $48.00 in a report on Monday, October 9th. Royal Bank Of Canada boosted their price target on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, Macquarie cut shares of Cogent Communications Holdings from a “neutral” rating to an “underperform” rating in a report on Friday. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Cogent Communications Holdings presently has a consensus rating of “Hold” and a consensus price target of $43.77.

Cogent Communications Holdings (CCOI) opened at $42.60 on Monday. The firm has a market capitalization of $1,957.68, a price-to-earnings ratio of 118.33, a PEG ratio of 10.53 and a beta of 0.65. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be given a $0.48 dividend. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.92 annualized dividend and a yield of 4.51%. Cogent Communications Holdings’s payout ratio is currently 511.11%.

In other Cogent Communications Holdings news, VP Raymond B. Kummer sold 2,000 shares of Cogent Communications Holdings stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $45.78, for a total value of $91,560.00. Following the sale, the vice president now owns 59,140 shares of the company’s stock, valued at $2,707,429.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $46.60, for a total transaction of $46,600.00. Following the completion of the sale, the vice president now directly owns 41,052 shares in the company, valued at approximately $1,913,023.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,216 shares of company stock worth $850,007. Insiders own 9.48% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Cogent Communications Holdings by 3.5% in the second 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 period. Jennison Associates LLC raised its position in shares of Cogent Communications Holdings by 25.3% in the third quarter. Jennison Associates LLC now owns 2,340,837 shares of the technology company’s stock valued at $114,467,000 after purchasing an additional 473,088 shares during the period. Renaissance Technologies LLC raised its position in shares of Cogent Communications Holdings by 13.5% in the second 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 period. Dimensional Fund Advisors LP raised its position in shares of Cogent Communications Holdings by 11.3% in the second 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 period. Finally, MIG Capital LLC raised its position in shares of Cogent Communications Holdings by 7.3% in the second 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 period. 89.96% of the stock is currently owned by institutional investors.

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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