Cogent Communications (CCOI)

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Cogent Communications CCOI Upgraded by Raymond James (RJF) to “Outperform”
http://www.americanbankingnews.com/2011/03/07/cogent-communications-ccoi-upgraded-by-raymond-james-rjf-to-outperform/
March 7th, 2011

Equities research analysts at Raymond James (NYSE: RJF) upgraded shares of Cogent Communications (NASDAQ: CCOI) from a “market perform” rating to an “outperform” rating in a research note to investors on Friday.

Separately, analysts at RBC Capital (NYSE: RY) raised their price target on shares of Cogent Communications from $13.00 to $18.00 in a research note to investors on Tuesday, December 21st. They now have an “outperform” rating on the stock.

Cogent Communications Group, Inc. is a facilities-based provider of Internet access and Internet Protocol (IP) communications services. Its network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other organizations through approximately 21,300 customer connections in North America and Europe. The Company provides its own on-net service at a speed of 100 Megabits per second through its own facilities. Its customers in multi-tenant office buildings are law firms, financial services firms, advertising and marketing firms and other professional services businesses. It also provide on-net Internet access to certain bandwidth-intensive users, such as universities, other Internet service providers (ISPs) and commercial content providers at speeds of up to ten Gigabits per second.

Cogent Communications last announced its quarterly results on Thursday, February 24th. The company reported $0.06 earnings per share (EPS) for the previous quarter. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Cogent Communications will post $-0.01 EPS next quarter.

Shares of Cogent Communications (NASDAQ: CCOI) opened at 15.51 on Monday. Cogent Communications has a 52 week low of $6.98 and a 52 week high of $16.14. The stock’s 50-day moving average is $14.22 and its 200-day moving average is $11.78. The company has a market cap of $692.5 million and a price-to-earnings ratio of 1551.00.