$272.32 Million in Sales Expected for CyrusOne Inc. (NASDAQ:CONE) This Quarter


Share on StockTwits

Wall Street brokerages expect CyrusOne Inc. (NASDAQ:CONE) to report sales of $272.32 million for the current quarter, according to Zacks. Six analysts have made estimates for CyrusOne’s earnings. The highest sales estimate is $275.40 million and the lowest is $268.34 million. CyrusOne posted sales of $245.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.7%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, May 5th.

On average, analysts expect that CyrusOne will report full-year sales of $1.13 billion for the current financial year, with estimates ranging from $1.12 billion to $1.13 billion. For the next financial year, analysts forecast that the company will report sales of $1.23 billion, with estimates ranging from $1.20 billion to $1.25 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CyrusOne.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Tuesday, February 16th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.16. CyrusOne had a positive return on equity of 1.23% and a negative net margin of 2.91%.

Several analysts have weighed in on CONE shares. Evercore ISI started coverage on CyrusOne in a report on Wednesday, March 17th. They issued an “in-line” rating and a $70.00 target price on the stock. Zacks Investment Research lowered CyrusOne from a “hold” rating to a “sell” rating in a report on Monday, February 1st. Raymond James lowered their target price on CyrusOne from $83.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 25th. Mizuho decreased their price objective on CyrusOne from $74.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, March 12th. They noted that the move was a valuation call. Finally, TD Securities decreased their price objective on CyrusOne from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $80.80.

CyrusOne stock opened at $69.89 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of -268.80, a price-to-earnings-growth ratio of 0.81 and a beta of 0.46. CyrusOne has a fifty-two week low of $61.64 and a fifty-two week high of $86.77. The stock’s fifty day moving average is $67.13 and its two-hundred day moving average is $71.06.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Investors of record on Friday, March 26th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, March 25th. This represents a $2.04 annualized dividend and a yield of 2.92%. CyrusOne’s dividend payout ratio (DPR) is presently 56.20%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Liberty One Investment Management LLC lifted its position in CyrusOne by 11.1% during the first quarter. Liberty One Investment Management LLC now owns 11,587 shares of the real estate investment trust’s stock worth $785,000 after buying an additional 1,156 shares during the period. Cox Capital Mgt LLC raised its holdings in shares of CyrusOne by 67.1% in the 1st quarter. Cox Capital Mgt LLC now owns 45,076 shares of the real estate investment trust’s stock worth $3,053,000 after purchasing an additional 18,102 shares during the period. Pensionfund DSM Netherlands raised its holdings in shares of CyrusOne by 30.2% in the 1st quarter. Pensionfund DSM Netherlands now owns 51,700 shares of the real estate investment trust’s stock worth $3,501,000 after purchasing an additional 12,000 shares during the period. Pensionfund Sabic raised its holdings in shares of CyrusOne by 4.9% in the 1st quarter. Pensionfund Sabic now owns 21,400 shares of the real estate investment trust’s stock worth $1,449,000 after purchasing an additional 1,000 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of CyrusOne by 84.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 70,521 shares of the real estate investment trust’s stock worth $5,162,000 after purchasing an additional 32,333 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

About CyrusOne

CyrusOne (NASDAQ: CONE) is a premier global REIT specializing in design, construction and operation of more than 50 high-performance data centers worldwide. The Company provides mission-critical facilities that ensure the continued operation of IT infrastructure for approximately 1,000 customers, including approximately 200 Fortune 1000 companies.

Featured Article: Hedge Funds Explained

Get a free copy of the Zacks research report on CyrusOne (CONE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CyrusOne (NASDAQ:CONE)

Receive News & Ratings for CyrusOne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne and related companies with MarketBeat.com's FREE daily email newsletter.