CyrusOne (CONE) Rating Lowered to Strong Sell at BidaskClub

CyrusOne (NASDAQ:CONE) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on CONE. William Blair started coverage on shares of CyrusOne in a report on Friday, September 22nd. They issued an “outperform” rating for the company. Jefferies Group reissued a “buy” rating and issued a $69.00 target price on shares of CyrusOne in a report on Monday, October 16th. Cowen reissued a “buy” rating and issued a $78.00 target price on shares of CyrusOne in a report on Wednesday, November 1st. UBS Group reissued a “buy” rating and issued a $70.00 target price (up from $63.00) on shares of CyrusOne in a report on Wednesday, November 1st. Finally, Mitsubishi UFJ Financial Group raised shares of CyrusOne from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $65.08.

CyrusOne (CONE) traded up $0.32 during mid-day trading on Friday, hitting $55.42. 1,050,000 shares of the company were exchanged, compared to its average volume of 981,842. CyrusOne has a 1 year low of $46.41 and a 1 year high of $65.73. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $5,090.00, a price-to-earnings ratio of -56.55, a PEG ratio of 0.88 and a beta of 0.79.

CyrusOne (NASDAQ:CONE) last posted its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.37). CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The business had revenue of $175.30 million during the quarter, compared to analysts’ expectations of $177.62 million. During the same period last year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. research analysts anticipate that CyrusOne will post 3.08 EPS for the current fiscal year.

In other news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total transaction of $812,700.00. Following the completion of the sale, the insider now directly owns 214,063 shares in the company, valued at $12,886,592.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.64% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in CONE. Cbre Clarion Securities LLC bought a new stake in shares of CyrusOne during the second quarter worth $93,042,000. Atlantic Trust Group LLC bought a new stake in shares of CyrusOne during the third quarter worth $93,942,000. Santa Barbara Asset Management LLC bought a new stake in shares of CyrusOne during the third quarter worth $65,169,000. Janus Henderson Group PLC lifted its position in shares of CyrusOne by 971.8% during the second 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. lifted its position in shares of CyrusOne by 5.1% during the second 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. Institutional investors and hedge funds own 96.67% of the company’s stock.

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About CyrusOne

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.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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