Cogent Communications Holdings Inc (CCOI) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.07. The company posted revenue of $108.30 million in the period, compared to analysts expectations of $107.92 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.
Many Wall Street Analysts have commented on Cogent Communications Holdings Inc. Company shares were Downgraded by Citigroup on Apr 6, 2016 to ” Neutral”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .Company shares were Reiterated by RBC Capital Mkts on Feb 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .Cogent Communications Holdings Inc was Downgraded by JP Morgan to ” Neutral” on Feb 23, 2016.
Cogent Communications Holdings Inc opened for trading at $38.57 and hit $39.2 on the upside on Wednesday, eventually ending the session at $38.98, with a gain of 0.70% or 0.27 points. The heightened volatility saw the trading volume jump to 4,48,629 shares. Company has a market cap of $1,762 M.
In a different news, on May 2, 2016, Robert N Jr Beury (VP & Chief Legal Officer) sold 1,000 shares at $38.95 per share price. According to the SEC, on May 2, 2016, Timothy G Oneill (VP Field Engineering) sold 1,000 shares at $38.90 per share price. On Apr 5, 2016, Henry W Kilmer (VP of IP Engineering) sold 1,000 shares at $39.20 per share price, according to the Form-4 filing with the securities and exchange commission.
Cogent Communications Holdings Inc. is a facility-based provider of Internet access Internet Protocol (IP) and communications services. The Companys network is designed and optimized to transmit data using IP. The Company delivers its services to small and medium-sized businesses communications service providers and other bandwidth-intensive organizations in North America Europe and Japan. The Company offers on-net Internet access services through its own facilities which run from its network to its customers’ premises. The Company offers its on-net services to customers located in buildings that are physically connected to its network. Its on-net service consists of Internet access and IP connectivity ranging from 100 Megabits per second to 100 Gigabits per second of bandwidth. It provides its on-net Internet access services to its net-centric and corporate customers.