Cogent Communications Holdings Inc

CCOI: XNAS (USA)
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Cogent Earnings: Needed Dividend Cut Pummels Shares, Which Look Attractive

Cogent reported mixed third-quarter results. Sales declined more than we expected (6% year over year), but the accelerated loss of noncore Sprint revenue, which is going away anyway, appears mostly to blame. The firm slashed its dividend, which was clearly necessary, but disappointing to the market.

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