21.04.2020 09:36:27
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Stock Alert: Cogent Communications
(RTTNews) - Internet service provider Cogent Communications Holdings Inc. (CCOI) climbed $2.43 or 2.78% on Monday before closing at $89.78. CCOI grew more than 30% in one month. It has traded in the range of $53.24- $92.13 in the last 52-weeks.
Cogent's primary services include internet access and data transport, IP data-only network, as well as colocation in data centers.
The company, which provides internet access to small and medium-sized companies saw a spike in traffic in the recent months as people are working from home during the coronavirus lockdown.
In February, when the company reported its fourth-quarter results, service revenue had increased 6.2% year-over-year to $140.3 million.
Earnings for the quarter was $0.16 per share, flat with the year-ago quarter. Earnings missed average estimate of 14 analysts polled by Thomson Reuters at $0.21.
Also,the company had increased its dividend by $0.02 in the fourth quarter to $0.66 from last quarter, its 30th consecutive increase.
Cogent is scheduled to report its first-quarter results on May 7. On average 14 analysts see earnings of $0.22 per share on revenue of $141.75 million for the quarter.
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Cogent Communications Holdings Inc | 82,00 | -0,80% |
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