Cogent Communications Group Inc. (NASDAQ:CCOI) – Equities research analysts at William Blair decreased their Q3 2016 earnings per share estimates for Cogent Communications Group in a note issued to investors on Friday. William Blair analyst J. Breen now forecasts that the firm will earn $0.06 per share for the quarter, down from their previous estimate of $0.11. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Cogent Communications Group’s FY2016 earnings at $0.31 EPS.
Several other research firms also recently commented on CCOI. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $45.00 price target on shares of Cogent Communications Group in a research report on Wednesday, August 10th. TheStreet downgraded shares of Cogent Communications Group from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Citigroup Inc. reduced their price target on shares of Cogent Communications Group from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, August 12th. Drexel Hamilton set a $44.00 price target on shares of Cogent Communications Group and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Jefferies Group reiterated a “hold” rating on shares of Cogent Communications Group in a research report on Saturday, August 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $42.70.
Cogent Communications Group (NASDAQ:CCOI) opened at 35.04 on Monday. The firm’s 50-day moving average is $35.91 and its 200 day moving average is $38.65. Cogent Communications Group has a 12-month low of $29.20 and a 12-month high of $43.61. The stock has a market capitalization of $1.56 billion, a P/E ratio of 118.38 and a beta of 0.98.
Cogent Communications Group (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The business had revenue of $110 million for the quarter, compared to the consensus estimate of $110.88 million. Cogent Communications Group had a net margin of 3.10% and a negative return on equity of 89.73%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share.
In other news, VP Henry W. Kilmer sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $35.17, for a total transaction of $35,170.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tim Weingarten sold 2,822 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $35.57, for a total transaction of $100,378.54. Following the transaction, the director now directly owns 21,479 shares in the company, valued at $764,008.03. The disclosure for this sale can be found here. Insiders own 9.17% of the company’s stock.
Several institutional investors have recently bought and sold shares of CCOI. Renaissance Technologies LLC boosted its position in Cogent Communications Group by 5.6% in the first quarter. Renaissance Technologies LLC now owns 1,597,900 shares of the company’s stock worth $62,366,000 after buying an additional 84,400 shares during the period. Aperio Group LLC raised its stake in Cogent Communications Group by 8.0% in the first quarter. Aperio Group LLC now owns 9,508 shares of the company’s stock valued at $371,000 after buying an additional 706 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Cogent Communications Group during the first quarter valued at approximately $3,887,000. PineBridge Investments L.P. raised its stake in Cogent Communications Group by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,220 shares of the company’s stock valued at $210,000 after buying an additional 194 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in Cogent Communications Group by 133.3% in the first quarter. BlackRock Fund Advisors now owns 2,741,988 shares of the company’s stock valued at $107,020,000 after buying an additional 1,566,875 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.
Cogent Communications Group 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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