Zacks Research Has Optimistic View of CCOI FY2024 Earnings

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) – Investment analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Cogent Communications in a note issued to investors on Monday, February 24th. Zacks Research analyst R. Department now forecasts that the technology company will earn ($4.61) per share for the year, up from their previous forecast of ($4.65). The consensus estimate for Cogent Communications’ current full-year earnings is ($4.55) per share. Zacks Research also issued estimates for Cogent Communications’ Q4 2024 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.11) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($3.88) EPS, Q1 2026 earnings at ($0.34) EPS, Q2 2026 earnings at ($0.38) EPS, Q3 2026 earnings at ($0.11) EPS, Q4 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.92) EPS.

Separately, UBS Group assumed coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Trading Up 1.1 %

Shares of Cogent Communications stock opened at $80.11 on Thursday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $3.93 billion, a P/E ratio of 102.71 and a beta of 0.40. The stock has a fifty day simple moving average of $76.77 and a 200 day simple moving average of $77.07. Cogent Communications has a 12-month low of $50.80 and a 12-month high of $86.76.

Institutional Investors Weigh In On Cogent Communications

Several large investors have recently added to or reduced their stakes in the company. Ulysses Management LLC boosted its position in Cogent Communications by 9.6% during the fourth quarter. Ulysses Management LLC now owns 372,166 shares of the technology company’s stock worth $28,683,000 after purchasing an additional 32,596 shares during the period. Turtle Creek Asset Management Inc. purchased a new stake in shares of Cogent Communications during the 4th quarter valued at approximately $9,649,000. Tyro Capital Management LLC boosted its holdings in Cogent Communications by 20.1% in the 4th quarter. Tyro Capital Management LLC now owns 420,825 shares of the technology company’s stock worth $32,433,000 after buying an additional 70,521 shares during the period. Shellback Capital LP purchased a new position in Cogent Communications in the 4th quarter valued at approximately $9,255,000. Finally, SG Capital Management LLC raised its holdings in Cogent Communications by 105.2% during the 4th quarter. SG Capital Management LLC now owns 201,916 shares of the technology company’s stock valued at $15,562,000 after acquiring an additional 103,498 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insiders Place Their Bets

In other news, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $81.42, for a total transaction of $156,326.40. Following the completion of the sale, the executive now owns 51,462 shares in the company, valued at $4,190,036.04. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Henry W. Kilmer sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the completion of the transaction, the vice president now owns 33,800 shares in the company, valued at approximately $2,555,618. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,440 shares of company stock valued at $1,057,910. Company insiders own 11.40% of the company’s stock.

Cogent Communications Company Profile

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.