FY2017 EPS Estimates for CyrusOne Inc Raised by Analyst (CONE)
CyrusOne Inc (NASDAQ:CONE) – Investment analysts at William Blair boosted their FY2017 earnings per share (EPS) estimates for shares of CyrusOne in a research report issued on Wednesday. William Blair analyst J. Breen now anticipates that the real estate investment trust will post earnings of $3.10 per share for the year, up from their prior forecast of $3.08. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for CyrusOne’s FY2018 earnings at $3.32 EPS.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results 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). The business had revenue of $175.30 million for the quarter, compared to the consensus estimate of $177.62 million. CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS.
A number of other equities analysts have also weighed in on the company. KeyCorp reaffirmed a “hold” rating on shares of CyrusOne in a research note on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of CyrusOne in a research note on Thursday, September 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $69.00 price objective on shares of CyrusOne in a research note on Monday, October 16th. Zacks Investment Research raised CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, July 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $63.00 price objective (up previously from $58.00) on shares of CyrusOne in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $62.14.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, December 28th. CyrusOne’s payout ratio is presently -173.19%.
In related news, EVP Robert M. Jackson sold 1,890 shares of the 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 transaction, the executive vice president now directly owns 24,296 shares of the company’s stock, valued at $1,433,464. The sale was disclosed in a filing with the SEC, which is available through this link. 1.64% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in 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 buying an additional 1,198 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in 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 buying an additional 1,850 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in CyrusOne during the second quarter valued at approximately $124,000. PNC Financial Services Group Inc. boosted its stake in 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 buying an additional 388 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in 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 buying an additional 484 shares during the last quarter. 97.17% of the stock is owned by 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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