Wall Street brokerages predict that Cogent Communications Holdings Inc (NASDAQ:CCOI) will report sales of $126.21 million for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Cogent Communications’ earnings. The highest sales estimate is $127.01 million and the lowest is $125.70 million. Cogent Communications posted sales of $115.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The business is expected to report its next earnings report before the market opens on Thursday, February 22nd.

According to Zacks, analysts expect that Cogent Communications will report full year sales of $126.21 million for the current fiscal year, with estimates ranging from $485.60 million to $486.96 million. For the next fiscal year, analysts anticipate that the firm will post sales of $532.23 million per share, with estimates ranging from $527.40 million to $536.65 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Cogent Communications.

CCOI has been the subject of several recent research reports. Citigroup cut shares of Cogent Communications from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $43.00 to $39.00 in a report on Thursday, November 2nd. SunTrust Banks cut shares of Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Friday, November 3rd. Raymond James Financial reaffirmed an “underperform” rating on shares of Cogent Communications in a report on Friday, November 3rd. Jefferies Group lifted their price objective on shares of Cogent Communications from $39.00 to $43.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Finally, Macquarie cut shares of Cogent Communications from a “neutral” rating to an “underperform” rating in a report on Friday, November 3rd. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.27.

Shares of Cogent Communications (NASDAQ CCOI) traded up $0.65 during trading on Monday, hitting $43.55. 237,600 shares of the company traded hands, compared to its average volume of 248,146. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of -8.84. Cogent Communications has a 12-month low of $37.85 and a 12-month high of $54.85. The stock has a market capitalization of $1,971.47, a PE ratio of 120.97, a PEG ratio of 6.07 and a beta of 0.49.

In other news, VP Robert N. Beury, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.51, for a total transaction of $139,530.00. Following the completion of the sale, the vice president now owns 47,240 shares of the company’s stock, valued at $2,197,132.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Liebhaber bought 700 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $45.30 per share, with a total value of $31,710.00. Following the purchase, the director now directly owns 71,045 shares of the company’s stock, valued at $3,218,338.50. The disclosure for this purchase can be found here. Insiders sold 13,250 shares of company stock valued at $611,435 in the last ninety days. 9.48% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CCOI. Wells Fargo & Company MN increased its stake in shares of Cogent Communications by 19.6% during the second quarter. Wells Fargo & Company MN now owns 92,318 shares of the technology company’s stock worth $3,702,000 after purchasing an additional 15,110 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Cogent Communications by 0.9% during the second quarter. Teachers Advisors LLC now owns 76,177 shares of the technology company’s stock worth $3,055,000 after purchasing an additional 650 shares in the last quarter. Amalgamated Bank increased its stake in shares of Cogent Communications by 4.8% during the second quarter. Amalgamated Bank now owns 5,756 shares of the technology company’s stock worth $231,000 after purchasing an additional 265 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Cogent Communications by 1,919.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after purchasing an additional 3,589 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Cogent Communications by 53.4% during the second quarter. UBS Asset Management Americas Inc. now owns 25,451 shares of the technology company’s stock worth $1,021,000 after purchasing an additional 8,859 shares in the last quarter. 94.11% of the stock is owned by institutional investors and hedge funds.

WARNING: This news story was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://theolympiareport.com/2018/02/15/brokerages-anticipate-cogent-communications-holdings-inc-ccoi-will-post-quarterly-sales-of-126-21-million.html.

About Cogent Communications

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.

Get a free copy of the Zacks research report on Cogent Communications (CCOI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.