Other equities research analysts have also issued research reports about the company. TheStreet upgraded Cogent Communications from a c+ rating to a b- rating in a research note on Thursday, November 21st. Royal Bank of Canada boosted their price target on Cogent Communications from $54.00 to $65.00 and gave the stock a sector perform rating in a research note on Wednesday, November 13th. Zacks Investment Research upgraded Cogent Communications from a hold rating to a buy rating and set a $76.00 price target on the stock in a research note on Wednesday, January 8th. Wells Fargo & Co restated a hold rating on shares of Cogent Communications in a research note on Friday, December 6th. Finally, ValuEngine lowered Cogent Communications from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $68.00.
Shares of CCOI stock opened at $70.96 on Friday. Cogent Communications has a fifty-two week low of $45.97 and a fifty-two week high of $71.19. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 112.63, a PEG ratio of 9.14 and a beta of 0.58. The stock’s 50-day simple moving average is $64.73 and its 200-day simple moving average is $60.69.
Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.12. Cogent Communications had a negative return on equity of 21.84% and a net margin of 6.91%. The business had revenue of $136.94 million for the quarter, compared to analyst estimates of $136.50 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Cogent Communications will post 0.87 earnings per share for the current year.
In other Cogent Communications news, VP John B. Chang sold 534 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $65.46, for a total value of $34,955.64. Following the completion of the transaction, the vice president now directly owns 18,300 shares of the company’s stock, valued at $1,197,918. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy G. Oneill sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $67.42, for a total value of $134,840.00. Following the completion of the transaction, the vice president now directly owns 29,752 shares of the company’s stock, valued at $2,005,879.84. The disclosure for this sale can be found here. Insiders have sold 20,524 shares of company stock valued at $1,285,332 in the last ninety days. Corporate insiders own 10.17% of the company’s stock.
A number of large investors have recently made changes to their positions in CCOI. Man Group plc increased its position in shares of Cogent Communications by 5.7% in the third quarter. Man Group plc now owns 605,077 shares of the technology company’s stock valued at $33,340,000 after buying an additional 32,627 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Cogent Communications by 1.1% in the third quarter. Parametric Portfolio Associates LLC now owns 235,525 shares of the technology company’s stock valued at $12,977,000 after buying an additional 2,663 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Cogent Communications in the third quarter valued at approximately $1,900,000. Tower Research Capital LLC TRC increased its position in shares of Cogent Communications by 4,287.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,448 shares of the technology company’s stock valued at $80,000 after buying an additional 1,415 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Cogent Communications by 3,558.8% in the third quarter. Point72 Asset Management L.P. now owns 18,294 shares of the technology company’s stock valued at $1,008,000 after buying an additional 17,794 shares in the last quarter. 85.13% of the stock is owned by 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 primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
Featured Article: Stock Symbol
Receive News & Ratings for Cogent Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications and related companies with MarketBeat.com's FREE daily email newsletter.