Cogent Communications Holdings (CCOI) – Investment Analysts’ Recent Ratings Updates

Cogent Communications Holdings (NASDAQ: CCOI) has recently received a number of price target changes and ratings updates:

  • 10/10/2017 – Cogent Communications Holdings had its price target raised by analysts at Deutsche Bank AG from $48.00 to $51.00. They now have a “buy” rating on the stock.
  • 10/10/2017 – Cogent Communications Holdings was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Cogent Communications Holdings Inc. specializes in providing businesses with high speed Internet access, Ethernet transport, and colocation services. It offers on-net Internet access services to bandwidth-intensive users and on-net services in carrier-neutral co-location facilities, company controlled data centers, and single-tenant office buildings. In addition, it offers off-net services to businesses that are connected to its network primarily by means of ‘last mile’ access service lines obtained from other carriers primarily in the form of point-to-point carrier Ethernet, TDM, POS, SDH, and/or carrier Ethernet circuits. Cogent Communications Holdings Inc., formerly known as Cogent Communications Group, Inc., is headquartered in Washington, the District of Columbia. “
  • 10/9/2017 – Cogent Communications Holdings was downgraded by analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating. They now have a $48.00 price target on the stock, up previously from $46.00.
  • 10/9/2017 – Cogent Communications Holdings was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $57.00 price target on the stock. According to Zacks, “Cogent Communications Holdings Inc. specializes in providing businesses with high speed Internet access, Ethernet transport, and colocation services. It offers on-net Internet access services to bandwidth-intensive users and on-net services in carrier-neutral co-location facilities, company controlled data centers, and single-tenant office buildings. In addition, it offers off-net services to businesses that are connected to its network primarily by means of ‘last mile’ access service lines obtained from other carriers primarily in the form of point-to-point carrier Ethernet, TDM, POS, SDH, and/or carrier Ethernet circuits. Cogent Communications Holdings Inc., formerly known as Cogent Communications Group, Inc., is headquartered in Washington, the District of Columbia. “
  • 9/18/2017 – Cogent Communications Holdings had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $48.00 price target on the stock.

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) traded up 0.20% on Thursday, hitting $49.90. 84,111 shares of the stock traded hands. The stock has a 50-day moving average price of $47.44 and a 200 day moving average price of $43.27. The firm has a market cap of $2.23 billion, a P/E ratio of 142.57 and a beta of 0.66. Cogent Communications Holdings, Inc. has a 52 week low of $34.44 and a 52 week high of $51.85.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $119.80 million for the quarter, compared to the consensus estimate of $120.23 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that Cogent Communications Holdings, Inc. will post $0.47 EPS for the current fiscal year.

In related news, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $41.95, for a total value of $41,950.00. Following the transaction, the vice president now owns 42,052 shares in the company, valued at approximately $1,764,081.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven D. Brooks sold 10,000 shares of Cogent Communications Holdings stock in a transaction on Monday, August 7th. The stock was sold at an average price of $43.25, for a total transaction of $432,500.00. Following the completion of the transaction, the director now owns 26,400 shares in the company, valued at approximately $1,141,800. The disclosure for this sale can be found here. Insiders have sold a total of 31,466 shares of company stock valued at $1,422,354 over the last ninety days. 9.48% of the stock is currently owned by insiders.

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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