Cogent Communications Holdings, Inc. (CCOI) To Go Ex-Dividend on March 13th

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 1.005 per share by the technology company on Friday, March 28th. This represents a $4.02 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00.

Cogent Communications has increased its dividend payment by an average of 7.3% annually over the last three years and has increased its dividend every year for the last 13 years. Cogent Communications has a payout ratio of -198.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Cogent Communications to earn ($2.63) per share next year, which means the company may not be able to cover its $3.98 annual dividend with an expected future payout ratio of -151.3%.

Cogent Communications Stock Performance

Shares of CCOI stock traded up $0.61 during mid-day trading on Friday, hitting $73.07. 728,154 shares of the stock were exchanged, compared to its average volume of 350,099. The stock’s fifty day simple moving average is $76.72 and its two-hundred day simple moving average is $77.04. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications has a 12-month low of $50.80 and a 12-month high of $86.76. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 93.68 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. On average, analysts forecast that Cogent Communications will post -4.55 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity at Cogent Communications

In other news, VP Henry W. Kilmer sold 4,800 shares of Cogent Communications stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the sale, the vice president now owns 33,800 shares of the company’s stock, valued at $2,555,618. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the transaction, the executive now directly owns 49,542 shares of the company’s stock, valued at $3,794,917.20. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,440 shares of company stock worth $1,057,910 in the last three months. 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.