Cogent Communications (CCOI) Set to Announce Quarterly Earnings on Thursday

Cogent Communications (NASDAQ:CCOI) is scheduled to be announcing its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of ($1.34) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.59. The company had revenue of $260.40 million for the quarter, compared to analyst estimates of $264.32 million. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. Cogent Communications’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) EPS. On average, analysts expect Cogent Communications to post $-4 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cogent Communications Stock Up 0.2 %

Shares of CCOI opened at $81.58 on Wednesday. The firm has a market cap of $4.00 billion, a PE ratio of 89.65 and a beta of 0.40. The company’s fifty day moving average is $76.36 and its two-hundred day moving average is $67.12. Cogent Communications has a fifty-two week low of $50.80 and a fifty-two week high of $86.00. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 4.43.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCOI. KeyCorp lifted 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 restated an “outperform” rating and set a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their target price on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, August 12th. The Goldman Sachs Group lifted their target price on shares of Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, Citigroup lifted their target price on shares of Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.14.

Insider Activity

In related news, CEO Dave Schaeffer sold 60,000 shares of the company’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 sale, the chief executive officer now directly owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Dave Schaeffer sold 60,000 shares of the company’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 sale, the chief executive officer now directly owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lewis H. Ferguson sold 1,550 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total transaction of $112,561.00. Following the completion of the sale, the director now directly owns 17,748 shares in the company, valued at $1,288,859.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,870 shares of company stock worth $4,716,057. 11.00% of the stock is currently owned by insiders.

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.