Cogent Communications Holdings, Inc. (NASDAQ:CCOI) is reporting third quarter earnings results on Thursday 5th November 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.22 per share.
For the full year, analysts predict revenues of $ 570.18 million, while looking forward to income of $ 0.87 per share.
Previous Quarter Performance
Cogent Communications Holdings, Inc. reported income for the second quarter of $ 0.18 per share, from the revenue of $ 140.99 million. Wall street analysts are predicting, CCOI to report 2Q20 income of $ 0.23 per share from revenue of $ 143.38 million. The bottom line results missed street analysts by $ 0.05 or 21.74 percent, at the same time, top line results fell short of analysts by $ 2.39 million or 1.67 percent.
Stock Performance
Shares of Cogent Communications Holdings, Inc. traded low $ -0.59 or -1.02 percent on Wednesday, reaching $ 57.29 with volume of 318.80 thousand shares. Cogent Communications Holdings, Inc. has traded high as $ 58.71 and has cracked $ 56.90 on the downward trend
The closing price of $ 57.29, representing a 6.71 % increase from the 52 week low of $ 54.24 and a 37.74 % decrease over the 52 week high of $ 92.96.
The company has a market capital of $ 2.71 billion and is part of the Communication Services sector and Telecom Services industry.
Recent Analyst recommendations
- On 16th October 2020, downgraded by Credit Suisse Group to Neutral from Outperform rating, with $ 70.00 target price.
- On 5th October 2020, upgraded by Raymond James to Market Perform from Underperform rating.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.705 per share on August 5, 2020. The dividend were payable on September 4, 2020 to holders of record as of the close of business on August 21, 2020 and ex-dividend date on August 20, 2020.
Conference Call
Cogent Communications Holdings, Inc. will be hosting a conference call at 8:30 AM eastern time on 5th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cogentco.com
Cogent Communications Holdings, Inc., through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil. The company offers on-net Internet access and private network services to law firms, financial services firms, advertising and marketing firms, other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, content delivery network companies, and commercial content and application service providers. It also provides on-net services in carrier-neutral data centers, Cogent controlled data centers, and single-tenant office buildings.
