Cogent Communications Holdings Inc (NASDAQ:CCOI) price on Friday, May 23, rose 2.16% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $46.89.
A look at the stock’s price movement, the close in the last trading session was $45.90. Turning to its 52-week performance, $86.76 and $43.65 were the 52-week high and 52-week low respectively. Overall, CCOI moved -12.36% over the past month.
Cogent Communications Holdings Inc’s market cap currently stands at around $2.31 billion, with investors looking forward to this quarter’s earnings report slated for in June. The company has a Forward Dividend ratio of 3.99, with its dividend yield at 8.52%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 247.79M for the company’s revenue for the quarter, with a low and high estimate of 245M and 252.85M respectively. The average forecast suggests down to a -4.86% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1B, representing a -3.31% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CCOI is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 5 recommend CCOI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CCOI’s current price about -8.83% and -16.26% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.07, while 7-day volatility ratio is 4.39% and 2.93% in the 30-day chart. Further, Cogent Communications Holdings Inc (CCOI) has a beta value of 0.71, and an average true range (ATR) of 2.41. Analysts have given the company’s stock an average 52-week price target of $77.5, forecast between a low of $55 and high of $102. Looking at the price targets, the low is -17.3% off current price level while to achieve the yearly target high, price needs to move -117.53%. Nonetheless, investors will most likely welcome a -65.28% jump to $77.5 which is the analysts’ median price.
If we refocus on Cogent Communications Holdings Inc (NASDAQ:CCOI), historical trading data shows that trading volumes averaged 655.53K over the past 3 months. The company’s latest data on shares outstanding shows there are 49.34 million shares.
The 11.70% of Cogent Communications Holdings Inc’s shares are in the hands of company insiders while institutional holders own 93.26% of the company’s shares. Current price change has pushed the stock -39.16% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CCOI stock continues to rise going into the next quarter.
