|Over a week ago|
Cogent upgraded to Buy from Hold at SunTrust » 08:2007/0107/01/20
SunTrust analyst Greg…
SunTrust analyst Greg Miller upgraded Cogent to Buy from Hold with a price target of $90, up from $75. The company can outperform expectations for Q2 and the second half of the year through a combination of higher rep count, lower rep churn, increased productivity, and improving ARPU amid remote office promotions and accelerating net centric growth, the analyst tells investors in a research note. Miller adds that the outperformance should result in greater confidence for dividend growth, which has become the primary valuation driver for Cogent.
Cogent upgraded to Buy from Hold at SunTrust » 06:1207/0107/01/20
SunTrust analyst Greg…
SunTrust analyst Greg Miller upgraded Cogent to Buy from Hold with a $90 price target.
Cogent price target raised to $64 from $56 at MoffettNathanson » 06:4106/2606/26/20
MoffettNathanson analyst Nick Del Deo raised the firm's price target on Cogent to $64 from $56 and keeps a Sell rating on the shares. Corporate customers will likely "hasten their adoption" of cloud-based services to a degree and retain an enhanced level of capacity to support work from home requirements, Del Deo tells investors in a research note. Further, the decline in interest rates has lowered Cogent's cost of capital, which benefits its "warranted valuation multiple," adds the analyst. Del Deo, however, believes Cogent's valuation "remains extended."
Cogent upgraded to Buy from Neutral at Citi » 06:3706/1606/16/20
Citi analyst Michael…
Citi analyst Michael Rollins upgraded Cogent Communications to Buy from Neutral with a price target of $85, up from $80. The estimated dividend yield for Cogent is in the lower half of its historical 3%-5% range, but the spread over treasuries has widened to 284 basis points versus the longer-term average of 181 basis points, Rollins tells investors in a research note. The analyst sees two potential catalysts for the spread to narrow and Cogent shares to trade higher. First, its revenue growth should improve and exceed consensus, and second, the company will accelerate dividend growth, says the analyst. Rollins also added Cogent to Citi's "Catalyst Watch list" for the next 90 days, believing that upcoming Q2 in August could show better revenue performance and set expectations for the Q3 dividend.
|Over a month ago|
Cogent appoints Sean Wallace as CFO » 13:3205/1105/11/20
Cogent Communications announced that Sean Wallace has been appointed VP, CFO and Treasurer of Cogent, effective immediately. Also on May 11, 2020, Thaddeus Weed, stepped down from his role of CFO, effective immediately. To facilitate an orderly transition, Weed will remain with Cogent as SVP, Audit & Operations. In addition, Jean-Michel Slagmuylder, who had been serving as Acting CFO and Treasurer of Cogent since March 17, 2020 during Weed's temporary medical leave of absence, stepped down from that role on May 11, 2020 and will return to his position of CFO for European Operations, effective immediately. Prior to joining Cogent, Mr. Wallace was an investor and operator of residential and industrial real estate projects from 2015.
Cogent downgraded to Neutral from Buy at LightShed Partners » 09:4005/0705/07/20
LightShed Partners downgraded Cogent to Neutral from Buy.
Cogent raises quarterly dividend 3% to 68c » 07:5505/0705/07/20
Cogent approved a regular…
Cogent approved a regular quarterly dividend of 68c per common share payable on June 5 to shareholders of record on May 22. This Q2 regular dividend represents a 3.0% increase of 2c per share from the Q1 regular dividend of 66c.
Cogent reports Q1 EPS 20c, consensus 22c » 07:5405/0705/07/20
Reports Q1 revenue…
Reports Q1 revenue $140.9M, consensus $141.79M. Total customer connections increased by 5.7% from March 31, 2019 to 87,213 as of March 31, 2020 and increased by 0.8% from December 31, 2019.
Cogent downgraded to Neutral from Buy at Goldman Sachs » 05:2504/1704/17/20
Goldman Sachs analyst…
Goldman Sachs analyst Brett Feldman downgraded Cogent Communications to Neutral from Buy with an unchanged price target of $95. The analyst cites valuation for the downgrade. Following the stock's recent outperformance versus the S&P 500, its valuation is "near-full," Feldman tells investors in a research note. Further, there is heightened levels of economic uncertainty around small and medium-sized businesses, which drive 70% of Cogent's revenues, adds the analyst.
Cogent price target raised to $99 from $86 at Credit Suisse » 07:0704/1404/14/20
Credit Suisse analyst…
Credit Suisse analyst Sami Badri raised the firm's price target on Cogent (CCOI) to $99 from $86 and keeps an Outperform rating on the shares. Following a deeper review into the company's business in Q1 and the 2020 business outlook, including OTT/Disney+ (DIS), COVID-19, and Corporate customer tailwinds, the analyst also increased 2020 and 2021 estimates. Additionally, he is increasing his quarterly dividend estimates to reflect increases of 3c per share per quarter in Q1 2021 to reflect Cogent's guidance around maintaining net leverage between 2.5-3.5-times net debt to EBITDA.