CyrusOne Trading Up 5.5% Following Earnings Beat (CONE)
CyrusOne (NASDAQ:CONE)’s share price was up 5.5% during trading on Thursday following a stronger than expected earnings report, AnalystRatings.Net reports. The stock traded as high as $21.79 and last traded at $21.17, with a volume of 106,943 shares trading hands. The stock had previously closed at $20.06.
The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.04. The company had revenue of $77.50 million for the quarter, compared to the consensus estimate of $74.29 million. CyrusOne’s revenue was up 29.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.19%.
A number of analysts have recently weighed in on CONE shares. Analysts at Evercore Partners raised their price target on shares of CyrusOne from $26.00 to $27.00 in a research note on Thursday. Separately, analysts at Zacks downgraded shares of CyrusOne from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 23rd. They now have a $19.50 price target on the stock. Finally, analysts at Cowen and Company reiterated an “outperform” rating on shares of CyrusOne in a research note on Sunday, April 6th. They now have a $27.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $24.58.
The stock’s 50-day moving average is $20.81 and its 200-day moving average is $21.18. The company’s market cap is $457.4 million. CyrusOne also was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 942,779 shares, an increase of 35.9% from the March 31st total of 693,713 shares. Based on an average daily trading volume, of 232,816 shares, the short-interest ratio is presently 4.0 days. Currently, 4.9% of the company’s shares are sold short.
CyrusOne Inc, is a owner, operator and developer of enterprise-class, carrier-neutral data center properties.
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