CyrusOne Inc (CONE) Expected to Post Quarterly Sales of $176.87 Million
Brokerages forecast that CyrusOne Inc (NASDAQ:CONE) will report sales of $176.87 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for CyrusOne’s earnings. The lowest sales estimate is $173.80 million and the highest is $180.10 million. CyrusOne posted sales of $143.80 million in the same quarter last year, which suggests a positive year over year growth rate of 23%. The firm is expected to report its next quarterly earnings results on Monday, October 30th.
On average, analysts expect that CyrusOne will report full year sales of $176.87 million for the current year, with estimates ranging from $672.75 million to $680.40 million. For the next fiscal year, analysts forecast that the business will report sales of $798.62 million per share, with estimates ranging from $783.31 million to $823.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover CyrusOne.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $165.71 million. During the same period last year, the business posted $0.67 earnings per share. The firm’s revenue was up 28.3% compared to the same quarter last year.
Several research firms have recently weighed in on CONE. Zacks Investment Research raised CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $63.00 target price (up from $58.00) on shares of CyrusOne in a report on Friday, August 25th. Cowen and Company boosted their target price on CyrusOne from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. BidaskClub downgraded CyrusOne from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $64.00 target price (up from $62.00) on shares of CyrusOne in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $61.08.
In other CyrusOne news, EVP Robert M. Jackson sold 1,890 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $59.00, for a total transaction 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 SEC, which can be accessed through this hyperlink. 1.64% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CONE. PNC Financial Services Group Inc. raised its stake in CyrusOne by 20.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 388 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in CyrusOne during the 2nd quarter valued at approximately $124,000. Public Employees Retirement Association of Colorado raised its stake in CyrusOne by 21.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 484 shares during the last quarter. Perigon Wealth Management LLC raised its stake in CyrusOne by 941.7% during the 1st quarter. Perigon Wealth Management LLC now owns 3,125 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 2,825 shares during the last quarter. Finally, Pitcairn Co. purchased a new stake in CyrusOne during the 1st quarter valued at approximately $204,000. 96.71% of the stock is owned by hedge funds and other institutional investors.
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Shares of CyrusOne (NASDAQ:CONE) opened at 64.02 on Monday. CyrusOne has a 1-year low of $38.80 and a 1-year high of $64.31. The stock’s market capitalization is $5.64 billion. The firm has a 50-day moving average price of $60.37 and a 200-day moving average price of $55.54.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, September 28th. CyrusOne’s dividend payout ratio is presently -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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