CyrusOne Inc (CONE) Given Average Rating of “Buy” by Analysts
CyrusOne Inc (NASDAQ:CONE) has earned an average recommendation of “Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $61.36.
Several equities research analysts have recently weighed in on CONE shares. BidaskClub upgraded CyrusOne from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Cowen and Company reiterated a “buy” rating and set a $68.00 price target on shares of CyrusOne in a research report on Thursday, September 21st. Zacks Investment Research cut CyrusOne from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Macquarie reiterated an “outperform” rating and set a $58.00 price target on shares of CyrusOne in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $69.00 price target on shares of CyrusOne in a research report on Monday, August 14th.
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CyrusOne (CONE) opened at 61.39 on Wednesday. CyrusOne has a 1-year low of $38.80 and a 1-year high of $65.73.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.27%. The firm had revenue of $175.30 million during the quarter, compared to the consensus estimate of $177.62 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The company’s revenue was up 21.9% on a year-over-year basis. Analysts expect that CyrusOne will post ($0.24) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, December 28th. CyrusOne’s dividend payout ratio is currently -173.19%.
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 value of $111,510.00. Following the completion of the sale, the executive vice president now owns 24,296 shares of the company’s stock, valued at $1,433,464. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.64% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in CONE. IFP Advisors Inc boosted its stake in shares of CyrusOne by 232.6% during the third quarter. IFP Advisors Inc now owns 1,713 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,198 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of CyrusOne by 3,032.8% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,911 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 1,850 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of CyrusOne by 20.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 388 shares during the period. Almanack Investment Partners LLC. purchased a new stake in shares of CyrusOne during the second quarter valued at approximately $124,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of CyrusOne by 21.6% during the second 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 purchasing an additional 484 shares during the period. 97.17% of the stock is owned by hedge funds and other institutional investors.
CyrusOne Company Profile
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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