CyrusOne Inc. (CONE) Sees Large Volume Increase
CyrusOne Inc. (NASDAQ:CONE) shares saw unusually-strong trading volume on Wednesday . Approximately 3,765,639 shares traded hands during trading, an increase of 245% from the previous session’s volume of 1,091,046 shares.The stock last traded at $51.27 and had previously closed at $51.63.
Several research analysts have commented on CONE shares. Morgan Stanley reaffirmed a “buy” rating on shares of CyrusOne in a research report on Tuesday, May 3rd. Jefferies Group reaffirmed a “buy” rating on shares of CyrusOne in a research report on Thursday, May 5th. Stifel Nicolaus lifted their price target on CyrusOne from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, May 6th. Deutsche Bank AG boosted their target price on CyrusOne from $53.00 to $55.00 and gave the company a “buy” rating in a report on Monday, May 9th. Finally, Royal Bank Of Canada boosted their target price on CyrusOne from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $53.82.
The firm has a 50-day moving average price of $53.83 and a 200 day moving average price of $46.13. The firm has a market cap of $4.01 billion and a PE ratio of 434.41.
CyrusOne (NASDAQ:CONE) last issued its earnings results on Monday, August 1st. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The business earned $130.10 million during the quarter, compared to analyst estimates of $125.94 million. The business’s quarterly revenue was up 46.0% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. On average, equities research analysts expect that CyrusOne Inc. will post $2.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.97%.
Several hedge funds have modified their holdings of the company. Argent Capital Management LLC boosted its stake in shares of CyrusOne by 0.5% in the fourth quarter. Argent Capital Management LLC now owns 117,675 shares of the company’s stock valued at $4,407,000 after buying an additional 575 shares during the period. KBC Group NV boosted its stake in shares of CyrusOne by 36.8% in the fourth quarter. KBC Group NV now owns 127,818 shares of the company’s stock valued at $4,787,000 after buying an additional 34,402 shares during the period. Jennison Associates LLC boosted its stake in shares of CyrusOne by 5.3% in the fourth quarter. Jennison Associates LLC now owns 3,478,650 shares of the company’s stock valued at $130,275,000 after buying an additional 174,675 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of CyrusOne by 11.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 245,000 shares of the company’s stock valued at $9,175,000 after buying an additional 25,000 shares during the period. Finally, Royce & Associates LLC boosted its stake in shares of CyrusOne by 66.1% in the fourth quarter. Royce & Associates LLC now owns 93,000 shares of the company’s stock valued at $3,483,000 after buying an additional 37,000 shares during the period.
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 the CyrusOne footprint and beyond.
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