Cogent Communications Holdings, Inc. (CCOI) To Go Ex-Dividend on August 21st

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Friday, August 21st will be paid a dividend of 0.02 per share by the technology company on Friday, September 4th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 21st.

Cogent Communications has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 14 years. Cogent Communications has a dividend payout ratio of -3.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cogent Communications to earn ($2.87) per share next year, which means the company may not be able to cover its $0.08 annual dividend with an expected future payout ratio of -2.8%.

Cogent Communications Stock Down 5.8%

CCOI opened at $10.13 on Wednesday. The business has a fifty day moving average of $12.81 and a 200 day moving average of $17.87. Cogent Communications has a 52-week low of $9.00 and a 52-week high of $45.69. The stock has a market cap of $518.86 million, a P/E ratio of -10.55 and a beta of 0.80.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, August 6th. The technology company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $2.38. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The business had revenue of $235.56 million for the quarter, compared to analyst estimates of $239.55 million. During the same quarter last year, the firm posted ($1.21) earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. Equities analysts anticipate that Cogent Communications will post -2.7 EPS for the current fiscal year.

Cogent Communications Company Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.