Wall Street analysts expect Cogent Communications Holdings Inc (NASDAQ:CCOI) to report earnings of $0.12 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Cogent Communications’ earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.17. Cogent Communications posted earnings per share of $0.09 in the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The company is expected to announce its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Cogent Communications will report full year earnings of $0.38 per share for the current fiscal year, with EPS estimates ranging from $0.34 to $0.41. For the next financial year, analysts expect that the company will post earnings of $0.69 per share, with EPS estimates ranging from $0.48 to $0.87. Zacks’ EPS calculations are an average based on a survey of research firms that follow Cogent Communications.

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

Several brokerages have recently issued reports on CCOI. Citigroup cut shares of Cogent Communications from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $43.00 to $39.00 in a research note on Thursday, November 2nd. Wells Fargo & Co cut shares of Cogent Communications from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $46.00 to $48.00 in a research note on Monday, October 9th. Zacks Investment Research cut shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. KeyCorp reaffirmed a “hold” rating on shares of Cogent Communications in a research note on Wednesday, October 11th. Finally, Deutsche Bank lifted their price objective on shares of Cogent Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $43.77.

In other news, Director Richard Liebhaber bought 700 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were acquired at an average cost of $45.30 per share, with a total value of $31,710.00. Following the completion of the transaction, the director now directly owns 71,045 shares in the company, valued at approximately $3,218,338.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc Montagner sold 5,000 shares of Cogent Communications stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $1,880,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,250 shares of company stock worth $611,435. 9.48% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in Cogent Communications by 71.4% during the second quarter. Goldman Sachs Group Inc. now owns 299,065 shares of the technology company’s stock valued at $11,992,000 after purchasing an additional 124,594 shares in the last quarter. BlackRock Inc. grew its position in Cogent Communications by 3.5% during 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 in the last quarter. Prudential Financial Inc. grew its position in Cogent Communications by 5.0% during the third quarter. Prudential Financial Inc. now owns 72,550 shares of the technology company’s stock valued at $3,548,000 after purchasing an additional 3,441 shares in the last quarter. Boston Financial Mangement LLC grew its position in Cogent Communications by 6.2% during the third quarter. Boston Financial Mangement LLC now owns 359,770 shares of the technology company’s stock valued at $17,593,000 after purchasing an additional 21,123 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Cogent Communications by 11.3% during 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 in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cogent Communications (CCOI) remained flat at $$44.80 on Friday. The company had a trading volume of 282,612 shares, compared to its average volume of 323,929. The company has a market cap of $2,058.78, a price-to-earnings ratio of 124.44, a PEG ratio of 6.48 and a beta of 0.58. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22. Cogent Communications has a twelve month low of $37.85 and a twelve month high of $54.85.

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Cogent Communications 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.

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Earnings History and Estimates for Cogent Communications (NASDAQ:CCOI)

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