Analysts Issue Forecasts for Cogent Communications Holdings, Inc.’s Q3 2017 Earnings (CCOI)

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Equities research analysts at Oppenheimer Holdings lifted their Q3 2017 earnings per share (EPS) estimates for shares of Cogent Communications Holdings in a research note issued to investors on Friday. Oppenheimer Holdings analyst T. Horan now expects that the technology company will earn $0.19 per share for the quarter, up from their previous forecast of $0.17. Oppenheimer Holdings also issued estimates for Cogent Communications Holdings’ Q4 2017 earnings at $0.22 EPS and FY2018 earnings at $1.12 EPS.

A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Monday. Wells Fargo & Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $46.00 to $48.00 in a report on Monday. Royal Bank Of Canada restated a “buy” rating and set a $48.00 target price on shares of Cogent Communications Holdings in a report on Monday, September 18th. Cowen and Company restated a “hold” rating and set a $46.00 target price on shares of Cogent Communications Holdings in a report on Friday, August 4th. Finally, BidaskClub cut shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Cogent Communications Holdings presently has a consensus rating of “Hold” and a consensus price target of $44.00.

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Cogent Communications Holdings (NASDAQ CCOI) opened at 48.40 on Monday. Cogent Communications Holdings has a 12-month low of $34.30 and a 12-month high of $51.85. The firm has a market cap of $2.16 billion, a P/E ratio of 138.29 and a beta of 0.66. The firm’s 50-day moving average is $47.03 and its 200 day moving average is $43.17.

Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The business had revenue of $119.80 million for the quarter, compared to analyst estimates of $120.23 million. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis.

In other news, VP Henry W. Kilmer sold 3,000 shares of Cogent Communications Holdings stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the transaction, the vice president now owns 36,600 shares of the company’s stock, valued at approximately $1,700,070. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Timothy G. Oneill sold 2,000 shares of Cogent Communications Holdings stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $48.75, for a total value of $97,500.00. Following the completion of the transaction, the vice president now directly owns 39,052 shares of the company’s stock, valued at approximately $1,903,785. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,466 shares of company stock valued at $1,422,354. 9.48% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Cogent Communications Holdings by 3.5% in the 2nd quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock worth $205,670,000 after purchasing an additional 172,987 shares during the last quarter. FMR LLC raised its position in shares of Cogent Communications Holdings by 5.9% in the 1st quarter. FMR LLC now owns 3,118,604 shares of the technology company’s stock worth $134,256,000 after purchasing an additional 173,379 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Cogent Communications Holdings by 13.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock worth $82,550,000 after purchasing an additional 245,100 shares during the last quarter. Jennison Associates LLC raised its position in shares of Cogent Communications Holdings by 13.1% in the 2nd quarter. Jennison Associates LLC now owns 1,867,749 shares of the technology company’s stock worth $74,897,000 after purchasing an additional 215,940 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Cogent Communications Holdings by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,133 shares of the technology company’s stock worth $59,513,000 after buying an additional 150,328 shares during the last quarter. 93.48% of the stock is owned by hedge funds and other institutional investors.

About Cogent Communications Holdings

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.

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

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