CyrusOne Inc Forecasted to Earn Q1 2019 Earnings of $0.91 Per Share (CONE)
CyrusOne Inc (NASDAQ:CONE) – Stock analysts at SunTrust Banks issued their Q1 2019 EPS estimates for CyrusOne in a report released on Wednesday. SunTrust Banks analyst G. Miller expects that the real estate investment trust will post earnings per share of $0.91 for the quarter. SunTrust Banks also issued estimates for CyrusOne’s Q2 2019 earnings at $0.93 EPS, Q3 2019 earnings at $0.97 EPS and FY2019 earnings at $3.81 EPS.
CyrusOne (NASDAQ:CONE) last announced its quarterly 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). The firm had revenue of $175.30 million for the quarter, compared to the consensus estimate of $177.62 million. CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share.
Several other equities research analysts have also recently commented on the stock. KeyCorp reaffirmed a “hold” rating on shares of CyrusOne in a research report on Tuesday, September 12th. Deutsche Bank reaffirmed a “buy” rating and issued a $71.00 price objective on shares of CyrusOne in a research report on Friday, November 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of CyrusOne in a research report on Thursday, September 14th. Jefferies Group reaffirmed a “buy” rating and issued a $69.00 price objective on shares of CyrusOne in a research report on Monday, October 16th. Finally, William Blair started coverage on shares of CyrusOne in a research report on Friday, September 22nd. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. CyrusOne has an average rating of “Buy” and a consensus price target of $64.15.
Shares of CyrusOne (NASDAQ:CONE) opened at $60.45 on Friday. The company has a market cap of $5,519.63, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.08 and a beta of 0.79. CyrusOne has a 52-week low of $43.57 and a 52-week high of $65.73. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.48 and a quick ratio of 0.48.
A number of hedge funds have recently modified their holdings of CONE. Public Employees Retirement Association of Colorado increased its stake in CyrusOne by 21.6% in the 2nd 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. Janney Montgomery Scott LLC increased its stake in shares of CyrusOne by 34.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 26,846 shares of the real estate investment trust’s stock worth $1,497,000 after purchasing an additional 6,823 shares during the last quarter. World Asset Management Inc increased its stake in shares of CyrusOne by 10.5% during the 2nd quarter. World Asset Management Inc now owns 5,766 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 550 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of CyrusOne by 13.2% during the 2nd quarter. Retirement Systems of Alabama now owns 214,354 shares of the real estate investment trust’s stock worth $11,950,000 after purchasing an additional 24,917 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in shares of CyrusOne by 4.5% during the 2nd quarter. New Mexico Educational Retirement Board now owns 11,500 shares of the real estate investment trust’s stock worth $687,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.
In other CyrusOne news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total value of $812,700.00. Following the sale, the insider now directly owns 214,063 shares in the company, valued at approximately $12,886,592.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.64% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.42 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.68 annualized dividend and a yield of 2.78%. CyrusOne’s payout ratio is currently -173.19%.
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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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