Q3 2017 EPS Estimates for CyrusOne Inc (CONE) Increased by Jefferies Group
CyrusOne Inc (NASDAQ:CONE) – Jefferies Group increased their Q3 2017 earnings per share estimates for shares of CyrusOne in a report issued on Monday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings of $0.77 per share for the quarter, up from their previous forecast of $0.75. Jefferies Group has a “Buy” rating and a $69.00 price target on the stock. Jefferies Group also issued estimates for CyrusOne’s Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.09 EPS and FY2019 earnings at $4.02 EPS.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.03. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. The business had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.71 million. During the same period in the prior year, the business posted $0.67 earnings per share. CyrusOne’s revenue was up 28.3% compared to the same quarter last year.
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CONE has been the subject of several other research reports. TheStreet lowered shares of CyrusOne from a “b-” rating to a “c” rating in a research note on Wednesday, May 3rd. Stifel Nicolaus boosted their price target on shares of CyrusOne from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Mitsubishi UFJ Financial Group started coverage on shares of CyrusOne in a research note on Tuesday, April 25th. They set a “neutral” rating and a $54.00 price target for the company. Cowen and Company upped their target price on shares of CyrusOne from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, June 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of CyrusOne in a research note on Monday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.69.
Shares of CyrusOne (NASDAQ:CONE) opened at 60.20 on Tuesday. CyrusOne has a 52 week low of $38.80 and a 52 week high of $61.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. CyrusOne’s payout ratio is presently -541.92%.
In related news, insider Kevin L. Timmons sold 8,600 shares of CyrusOne stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $57.89, for a total value of $497,854.00. Following the completion of the sale, the insider now directly owns 170,137 shares in the company, valued at approximately $9,849,230.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the executive vice president now owns 24,296 shares of the company’s stock, valued at $1,433,464. The disclosure for this sale can be found here. Insiders have sold 128,784 shares of company stock valued at $7,453,999 over the last 90 days. Corporate insiders own 1.64% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Almanack Investment Partners LLC. bought a new position in CyrusOne during the second quarter worth $124,000. PNC Financial Services Group Inc. boosted its position in CyrusOne by 20.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 388 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in CyrusOne by 21.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 484 shares in the last quarter. Perigon Wealth Management LLC boosted its position in CyrusOne by 941.7% in the first quarter. Perigon Wealth Management LLC now owns 3,125 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 2,825 shares in the last quarter. Finally, Janney Capital Management LLC acquired a new position in CyrusOne during the second quarter worth approximately $210,000. Institutional investors and hedge funds own 93.41% 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.
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