Internet service provider Cogent Communications (NASDAQ: CCOI) will be announcing earnings results this Monday morning. Here’s what you need to know.
Cogent missed analysts’ revenue expectations last quarter, reporting revenues of $240.5 million, down 4.7% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Cogent a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cogent’s revenue to decline 2.3% year on year, improving from the 7.2% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Cogent’s peers in the telecommunication services segment, only Iridium has reported results so far. It missed analysts’ revenue estimates, delivering year-on-year sales growth of 1.9%. The stock was down 3.6% on the results.
Read our full analysis of Iridium’s earnings results here.There has been positive sentiment among investors in the telecommunication services segment, with share prices up 10.1% on average over the last month. Cogent is up 21.6% during the same time and is heading into earnings with an average analyst price target of $26.18 (compared to the current share price of $23.38).
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