Cogent Communication Shares Up 8% Since Q3 Report
<p><a href='https://financialmodelingprep.com/financial-summary/CCOI'>Cogent Communication (NASDAQ:CCOI)</a> shares rose more than 8% since the company’s reported Q3 results earlier this month, with revenue of $150 million coming in slightly better than the Street estimate of $149.9 million.</p>
<p>Management increased the quarterly dividend by $0.01/share to $0.915/share, a moderation from the historical pacing of $0.025/share. The Board slowed its pacing of dividend increases to better align with free cash flow growth.</p>
<p>Analysts at RBC Capital lowered their price target to $61 from $64 reflecting a more conservative EBITDA margin ramp and the slower dividend pacing impact.</p>
<p>For the full 2022-year, RBC Capital expects revenues/EBITDA of $599.0/$234.2 million (vs. previous $600.3/$237.0 million) and 2023 revenue/EBITDA of $628.7/$249.1 million (vs. previous $632.4/$256.1 million).</p>

NASDAQ:CCOI