CyrusOne Inc (NASDAQ:CONE) Rating Lowered to Hold at Zacks Investment Research
CyrusOne Inc (NASDAQ:CONE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “CyrusOne Inc. is a real estate investment trust engaged in providing enterprise data centre colocation, engineering facilities with the highest power redundancy (2N architecture) and power-density infrastructure services in the United States, Europe, and Asia. CyrusOne Inc. is headquartered in Carrollton, United States. “
A number of other equities research analysts also recently weighed in on CONE. Mitsubishi UFJ Financial Group started coverage on CyrusOne in a research report on Tuesday, April 25th. They set a “neutral” rating and a $54.00 price target on the stock. Stifel Nicolaus restated a “buy” rating on shares of CyrusOne in a research report on Tuesday, April 25th. Barclays PLC raised their price target on CyrusOne from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, April 25th. TheStreet downgraded CyrusOne from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of CyrusOne in a research report on Monday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. CyrusOne has an average rating of “Buy” and a consensus target price of $59.29.
Shares of CyrusOne (CONE) traded down 2.66% during trading on Tuesday, reaching $56.44. The company’s stock had a trading volume of 862,407 shares. The stock’s market cap is $4.52 billion. CyrusOne has a 12-month low of $38.80 and a 12-month high of $60.55. The stock’s 50-day moving average is $57.51 and its 200-day moving average is $53.40.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. CyrusOne had a positive return on equity of 1.30% and a negative net margin of 4.35%. The business had revenue of $166.90 million for the quarter, compared to the consensus estimate of $165.71 million. During the same quarter last year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. Equities research analysts anticipate that CyrusOne will post ($0.11) earnings per share for the current fiscal year.
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In related news, insider Kevin L. Timmons sold 8,600 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $57.89, for a total transaction of $497,854.00. Following the transaction, the insider now owns 170,137 shares in the company, valued at approximately $9,849,230.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary J. Wojtaszek sold 80,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $57.79, for a total value of $4,623,200.00. Following the transaction, the insider now owns 511,621 shares in the company, valued at approximately $29,566,577.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,894 shares of company stock worth $7,342,489. 1.64% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CONE. Assetmark acquired a new position in shares of CyrusOne during the third quarter worth about $0. Springbok Capital Management LLC acquired a new position in shares of CyrusOne during the first quarter worth about $103,000. Public Employees Retirement Association of Colorado increased its position in shares of CyrusOne by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,277 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 8 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CyrusOne by 37.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,984 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 538 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of CyrusOne by 20.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 388 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.
CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.
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