Jefferies Boosts Numbers on Cogent Communications (CCOI)
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Price: $28.37 +2.53%
Rating Summary:
7 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
7 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CCOI Now!
Jefferies raised its price target on Buy-rated Cogent Communications (NASDAQ: CCOI) from $21 to $23.
The firm comments, "With the MegaUpload impact behind it, CCOI reiterated return to historical growth and margin expansion trends. In our view, instituting a recurring dividend (2+% yield) supports our thesis that the LT growth and cash flow generation model remain intact. Additionally, CCOI has significant dry powder in its share buyback plan, which we expect it to use opportunistically."
FY12 EPS goes down from $0.08 to $0.06 and FY13 goes up from $0.54 to $0.58.
For an analyst ratings summary and ratings history on Cogent Communications click here. For more ratings news on Cogent Communications click here.
Shares of Cogent Communications closed at $19.32 yesterday, with a 52 week range of $12.23-$20.24.
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The firm comments, "With the MegaUpload impact behind it, CCOI reiterated return to historical growth and margin expansion trends. In our view, instituting a recurring dividend (2+% yield) supports our thesis that the LT growth and cash flow generation model remain intact. Additionally, CCOI has significant dry powder in its share buyback plan, which we expect it to use opportunistically."
FY12 EPS goes down from $0.08 to $0.06 and FY13 goes up from $0.54 to $0.58.
For an analyst ratings summary and ratings history on Cogent Communications click here. For more ratings news on Cogent Communications click here.
Shares of Cogent Communications closed at $19.32 yesterday, with a 52 week range of $12.23-$20.24.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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