Zacks Research Analysts Increase Earnings Estimates for Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Stock analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for Cogent Communications in a research report issued on Monday, September 9th. Zacks Research analyst R. Department now anticipates that the technology company will post earnings per share of ($1.45) for the quarter, up from their prior estimate of ($1.46). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.46) per share. Zacks Research also issued estimates for Cogent Communications’ FY2024 earnings at ($4.69) EPS, Q1 2025 earnings at ($1.16) EPS, Q2 2025 earnings at ($1.10) EPS, Q3 2025 earnings at ($0.88) EPS, Q4 2025 earnings at ($0.82) EPS, FY2025 earnings at ($3.96) EPS, Q1 2026 earnings at ($0.53) EPS, Q2 2026 earnings at ($0.47) EPS and FY2026 earnings at ($1.54) EPS.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.59. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. The firm had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $264.32 million. During the same quarter last year, the business earned ($0.13) earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year.

CCOI has been the topic of a number of other reports. The Goldman Sachs Group boosted their target price on Cogent Communications from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. KeyCorp raised their target price on shares of Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Cogent Communications in a report on Tuesday, September 3rd. Finally, TD Cowen raised their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.86.

Cogent Communications Trading Up 2.7 %

Shares of Cogent Communications stock opened at $71.96 on Wednesday. The company has a 50-day moving average of $68.69 and a two-hundred day moving average of $64.23. The stock has a market cap of $3.53 billion, a PE ratio of 2.85 and a beta of 0.40. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43. Cogent Communications has a 12-month low of $50.80 and a 12-month high of $86.00.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.985 per share. This represents a $3.94 dividend on an annualized basis and a yield of 5.48%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, August 22nd. Cogent Communications’s payout ratio is 15.61%.

Insiders Place Their Bets

In other news, CEO Dave Schaeffer sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total value of $4,369,200.00. Following the transaction, the chief executive officer now owns 4,373,038 shares of the company’s stock, valued at approximately $318,444,627.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lewis H. Ferguson sold 1,550 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total value of $112,561.00. Following the sale, the director now owns 17,748 shares in the company, valued at $1,288,859.76. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock worth $4,615,719 over the last ninety days. 11.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCOI. EntryPoint Capital LLC acquired a new position in Cogent Communications in the 1st quarter worth $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cogent Communications by 127.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares during the last quarter. Covestor Ltd grew its stake in Cogent Communications by 17.2% during the 1st quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock valued at $123,000 after purchasing an additional 276 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Cogent Communications during the 1st quarter worth approximately $136,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Cogent Communications in the 4th quarter valued at approximately $211,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

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.