Cogent Communications Holdings Inc (CCOI) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Aug 8, 2016.
On the company’s financial health, Cogent Communications Holdings Inc reported $0.09 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.09. The company had revenue of $110.00 million for the quarter, compared to analysts expectations of $110.82 million. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Cogent Communications Holdings Inc closed down -0.47 points or -1.26% at $36.83 with 12,14,585 shares getting traded on Friday. Post opening the session at $37.75, the shares hit an intraday low of $36.71 and an intraday high of $38.08 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 3, 2016, Henry W Kilmer (VP of IP Engineering) sold 1,000 shares at $42.15 per share price. According to the SEC, on Aug 2, 2016, Robert N Jr Beury (VP & Chief Legal Officer) sold 1,000 shares at $43.27 per share price. On Aug 1, 2016, Timothy G Oneill (VP Field Engineering) sold 1,000 shares at $42.64 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.