Cogent Communications (NASDAQ:CCOI) Issues Earnings Results

Cogent Communications (NASDAQ:CCOI) issued its quarterly earnings results on Thursday. The technology company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31, Zacks reports. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%.

Cogent Communications Price Performance

Shares of Cogent Communications stock traded down $7.65 on Thursday, hitting $72.46. The company’s stock had a trading volume of 973,078 shares, compared to its average volume of 340,152. Cogent Communications has a 1 year low of $50.80 and a 1 year high of $86.76. The firm has a fifty day moving average price of $76.77 and a 200-day moving average price of $77.07. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 92.90 and a beta of 0.40.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $1.005 dividend. This represents a $4.02 annualized dividend and a dividend yield of 5.55%. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is currently 510.26%.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on Cogent Communications in a research note on Thursday, November 14th. They set a “buy” rating and a $102.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.25.

Insiders Place Their Bets

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $81.58, for a total transaction of $391,584.00. Following the completion of the sale, the chief financial officer now directly owns 88,500 shares in the company, valued at approximately $7,219,830. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.60, for a total value of $147,072.00. Following the sale, the executive now owns 49,542 shares of the company’s stock, valued at approximately $3,794,917.20. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,440 shares of company stock worth $1,057,910. Corporate insiders own 11.40% of the company’s stock.

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.