SunTrust Banks Weighs in on CyrusOne Inc’s FY2017 Earnings (CONE)
CyrusOne Inc (NASDAQ:CONE) – Investment analysts at SunTrust Banks boosted their FY2017 earnings estimates for CyrusOne in a research note issued on Tuesday. SunTrust Banks analyst G. Miller now anticipates that the real estate investment trust will post earnings per share of $3.11 for the year, up from their prior estimate of $3.09. SunTrust Banks also issued estimates for CyrusOne’s Q1 2018 earnings at $0.83 EPS and Q2 2018 earnings at $0.84 EPS.
A number of other analysts have also recently commented on CONE. BidaskClub cut shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Cowen and Company restated a “buy” rating and set a $78.00 target price on shares of CyrusOne in a report on Wednesday. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price (up previously from $65.00) on shares of CyrusOne in a report on Wednesday, August 9th. UBS AG restated a “buy” rating and set a $70.00 target price (up previously from $63.00) on shares of CyrusOne in a report on Wednesday. Finally, Jefferies Group LLC restated a “buy” rating and set a $69.00 target price on shares of CyrusOne in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $62.14.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The business had revenue of $175.30 million for the quarter, compared to analyst estimates of $177.62 million. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, December 28th. CyrusOne’s dividend payout ratio is presently -173.19%.
In other news, EVP Robert M. Jackson sold 1,890 shares of CyrusOne 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 transaction, the executive vice president now owns 24,296 shares of the company’s stock, valued at approximately $1,433,464. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.64% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CONE. BlackRock Inc. raised its position in shares of CyrusOne by 9,082.1% in the 1st quarter. BlackRock Inc. now owns 6,929,733 shares of the real estate investment trust’s stock worth $356,674,000 after purchasing an additional 6,854,263 shares during the last quarter. Cbre Clarion Securities LLC purchased a new position in shares of CyrusOne in the 2nd quarter worth about $93,042,000. State Street Corp raised its position in shares of CyrusOne by 107.4% in the 1st quarter. State Street Corp now owns 1,944,811 shares of the real estate investment trust’s stock worth $100,098,000 after purchasing an additional 1,007,158 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of CyrusOne by 971.8% in the 2nd quarter. Janus Henderson Group PLC now owns 839,934 shares of the real estate investment trust’s stock worth $46,826,000 after purchasing an additional 761,568 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of CyrusOne by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 12,464,124 shares of the real estate investment trust’s stock worth $694,875,000 after purchasing an additional 602,662 shares during the last quarter. 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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