RBC Capital analysts raised their price target on Cogent Communication (NASDAQ:CCOI) to $66 from $61 following the company’s reported Q4 results, with revenues slightly better than expectations and EBITDA slightly below.
Q4 EPS came in at $0.02, worse than the Street estimate of $0.18. Revenue was $152 million, compared to the Street estimate of $151 million. Management has received all material approvals from regulatory agencies globally, which should allow the Sprint transaction to close in the middle of Q2/23, in management’s view.
The Board increased the quarterly dividend by $0.01/share to $0.925/share, in line with the pace of the dividend increase in Q3.
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