Cogent Communications (CCOI) Neutral Rating Reiterated
By Daniel James Hayden IV
February 25, 2010 9:32 AM
February 25, 2010 9:32 AM
Symbols: CCOI
SunTrust Robinson Humphrey analysts Robert Dezego and Timothy J Schaeffer reiterated their Neutral rating for the shares of Cogent Communications Group (Nasdaq: CCOI).
The analysts noted that adjusted EBITDA and revenue fell below their expectations in the 4th quarter of 2009.
However, EPS share beat the analysts' estimates. Cogent Communications reported a loss of 3 cents per share, better than the analysts' estimate of a 7 cent per share loss.
According to Robert Dezego and Timothy J Schaeffer, "traffic growth was strong, up 23% sequentially, a sign that the lower pricing model is continuing to drive increased traffic onto the network, although the lower on-net ARPU suggests that pricing declines could be greater than expected."
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