Stephens Upgrades Cogent Communications to Overweight (CCOI)

By admin | 6 years ago

Cogent Communications (NASDAQ: CCOI) was upgraded by equities research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday.

Several other analysts have also recently commented on the stock. Analysts at Bank of America (NYSE: BAC) downgraded shares of Cogent Communications from a “buy” rating to an “underperform” rating in a research note to investors on Monday, April 2nd. They now have a $18.00 price target on the stock, down previously from $19.00. Separately, analysts at Canaccord Genuity initiated coverage on shares of Cogent Communications in a research note to investors on Tuesday, March 27th. They set a “buy” rating and a $22.00 price target on the stock. Finally, analysts at Raymond James (NYSE: RJF) upgraded shares of Cogent Communications from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, February 27th.

Cogent Communications traded down 1.12% on Friday, hitting $18.54. Cogent Communications has a 1-year low of $12.23 and a 1-year high of $20.24. The company has a market cap of $852.7 million and a price-to-earnings ratio of 148.81.

Cogent Communications last released its earnings data on Thursday, May 3rd. The company reported ($0.05) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.04) by $0.01. Cogent Communications’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Cogent Communications will post $0.05 EPS next quarter.

Cogent Communications Group, Inc. is a facilities-based provider of Internet access and Internet Protocol (IP) communications services.

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