CyrusOne Inc (CONE) Earns “Buy” Rating from Deutsche Bank AG
Deutsche Bank AG reiterated their buy rating on shares of CyrusOne Inc (NASDAQ:CONE) in a research note published on Friday morning. Deutsche Bank AG currently has a $71.00 price objective on the real estate investment trust’s stock.
CONE has been the subject of several other reports. William Blair initiated coverage on CyrusOne in a research report on Friday, September 22nd. They set an outperform rating for the company. KeyCorp reaffirmed a hold rating on shares of CyrusOne in a research report on Tuesday, September 12th. Morgan Stanley reaffirmed an overweight rating and set a $63.00 target price (up from $58.00) on shares of CyrusOne in a research report on Friday, August 25th. BidaskClub lowered CyrusOne from a strong-buy rating to a buy rating in a research report on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $63.00 target price on shares of CyrusOne in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $62.64.
Shares of CyrusOne (NASDAQ CONE) traded down $0.48 during trading hours on Friday, reaching $61.80. The company’s stock had a trading volume of 447,300 shares, compared to its average volume of 1,066,920. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.56. CyrusOne has a fifty-two week low of $38.80 and a fifty-two week high of $65.73. The company has a market cap of $5,850.00, a PE ratio of 20.88, a PEG ratio of 1.02 and a beta of 0.81.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the consensus estimate of $0.76 by ($1.37). CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The company had revenue of $175.30 million for the quarter, compared to the consensus estimate of $177.62 million. During the same quarter last year, the business posted $0.67 earnings per share. CyrusOne’s revenue was up 21.9% on a year-over-year basis. equities research analysts forecast that CyrusOne will post 3.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, December 28th. CyrusOne’s payout ratio is presently -171.43%.
In other CyrusOne news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction dated 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 transaction, the insider now owns 214,063 shares of the company’s stock, valued at approximately $12,886,592.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.64% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of CONE. PNC Financial Services Group Inc. boosted its position in shares of CyrusOne by 20.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 388 shares during the last quarter. Legal & General Group Plc boosted its position in shares of CyrusOne by 405.0% during the 1st quarter. Legal & General Group Plc now owns 46,875 shares of the real estate investment trust’s stock valued at $2,412,000 after acquiring an additional 37,592 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CyrusOne by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,020,756 shares of the real estate investment trust’s stock valued at $52,537,000 after acquiring an additional 53,721 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of CyrusOne by 9.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 285,451 shares of the real estate investment trust’s stock valued at $14,693,000 after acquiring an additional 24,905 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in shares of CyrusOne during the 1st quarter valued at about $834,000. Hedge funds and other institutional investors own 96.36% of the company’s stock.
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.
Receive News & Ratings for CyrusOne Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.