Q3 2017 EPS Estimates for CyrusOne Inc (NASDAQ:CONE) Increased by Jefferies Group
CyrusOne Inc (NASDAQ:CONE) – Analysts at Jefferies Group upped their Q3 2017 EPS estimates for CyrusOne in a research report issued on Monday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will earn $0.77 per share for the quarter, up from their previous forecast of $0.75. Jefferies Group has a “Buy” rating and a $69.00 price objective on the stock. Jefferies Group also issued estimates for CyrusOne’s Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.09 EPS and FY2019 earnings at $4.02 EPS.
A number of other analysts also recently issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $64.00 price target (up from $62.00) on shares of CyrusOne in a report on Friday. BidaskClub downgraded CyrusOne from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target (up from $65.00) on shares of CyrusOne in a report on Wednesday, August 9th. Zacks Investment Research downgraded CyrusOne from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of CyrusOne in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $60.69.
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CyrusOne (NASDAQ CONE) opened at 60.20 on Tuesday. CyrusOne has a 12 month low of $38.80 and a 12 month high of $61.26.
CyrusOne (NASDAQ:CONE) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.71 million. During the same period in the prior year, the company posted $0.67 EPS. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in CyrusOne by 100.5% in the first quarter. Bank of Montreal Can now owns 686,984 shares of the real estate investment trust’s stock valued at $35,358,000 after buying an additional 344,400 shares during the last quarter. Capstone Asset Management Co. purchased a new stake in CyrusOne during the first quarter valued at $373,000. Louisiana State Employees Retirement System purchased a new stake in CyrusOne during the first quarter valued at $968,000. Duff & Phelps Investment Management Co. increased its stake in CyrusOne by 30.1% in the first quarter. Duff & Phelps Investment Management Co. now owns 470,452 shares of the real estate investment trust’s stock valued at $24,214,000 after buying an additional 108,925 shares during the last quarter. Finally, Columbus Circle Investors purchased a new stake in CyrusOne during the first quarter valued at $976,000. 93.41% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Robert M. Jackson sold 1,890 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $59.00, for a total value of $111,510.00. Following the completion of the sale, the executive vice president now directly owns 24,296 shares of the company’s stock, valued at approximately $1,433,464. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin L. Timmons sold 8,600 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $57.89, for a total value of $497,854.00. Following the completion of the sale, the insider now directly owns 170,137 shares of the company’s stock, valued at $9,849,230.93. The disclosure for this sale can be found here. Insiders sold a total of 128,784 shares of company stock valued at $7,453,999 over the last three months. Company insiders own 1.64% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, September 28th. CyrusOne’s payout ratio is currently -541.92%.
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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