Wall Street brokerages predict that Cogent Communications Holdings Inc (NASDAQ:CCOI) will report $138.53 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Cogent Communications’ earnings, with estimates ranging from $137.47 million to $140.10 million. Cogent Communications reported sales of $132.05 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The firm is expected to report its next quarterly earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Cogent Communications will report full year sales of $543.83 million for the current fiscal year, with estimates ranging from $541.57 million to $546.40 million. For the next year, analysts expect that the company will post sales of $576.92 million, with estimates ranging from $571.12 million to $581.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cogent Communications.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.12. Cogent Communications had a net margin of 5.97% and a negative return on equity of 20.58%. The firm had revenue of $136.94 million during the quarter, compared to analyst estimates of $136.50 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Cogent Communications’s quarterly revenue was up 5.2% on a year-over-year basis.
Shares of CCOI traded up $1.53 during mid-day trading on Tuesday, reaching $62.36. The stock had a trading volume of 466,300 shares, compared to its average volume of 261,687. Cogent Communications has a 52-week low of $42.40 and a 52-week high of $64.24. The business’s fifty day moving average is $56.78 and its 200 day moving average is $58.57. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 98.98, a P/E/G ratio of 9.38 and a beta of 0.56.
In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 67,550 shares of the company’s stock, valued at $4,053,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $60.98, for a total transaction of $60,980.00. Following the completion of the transaction, the vice president now directly owns 37,252 shares in the company, valued at approximately $2,271,626.96. The disclosure for this sale can be found here. Insiders sold 31,080 shares of company stock worth $1,239,512 in the last ninety days. 10.17% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Miracle Mile Advisors LLC acquired a new position in Cogent Communications in the third quarter valued at about $283,000. Great Lakes Advisors LLC lifted its position in Cogent Communications by 6.1% in the third quarter. Great Lakes Advisors LLC now owns 102,973 shares of the technology company’s stock valued at $5,674,000 after buying an additional 5,898 shares during the last quarter. Mason Street Advisors LLC lifted its position in shares of Cogent Communications by 1.6% during the third quarter. Mason Street Advisors LLC now owns 14,148 shares of the technology company’s stock worth $780,000 after purchasing an additional 220 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Cogent Communications by 4,287.9% during the third quarter. Tower Research Capital LLC TRC now owns 1,448 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,415 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Cogent Communications by 203.5% during the third quarter. SG Americas Securities LLC now owns 27,632 shares of the technology company’s stock worth $1,523,000 after purchasing an additional 18,528 shares in the last quarter. 86.91% of the stock is currently owned by institutional investors.
Cogent Communications Company Profile
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.
Further Reading: Market Capitalization – What it Means for Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.