CyrusOne Inc Forecasted to Post Q3 2017 Earnings of $0.77 Per Share (NASDAQ:CONE)
CyrusOne Inc (NASDAQ:CONE) – Investment analysts at SunTrust Banks boosted their Q3 2017 earnings per share (EPS) estimates for CyrusOne in a research note issued on Thursday. SunTrust Banks analyst G. Miller now expects that the real estate investment trust will earn $0.77 per share for the quarter, up from their previous forecast of $0.76. SunTrust Banks also issued estimates for CyrusOne’s Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.09 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $0.93 EPS and FY2018 earnings at $3.46 EPS.
Several other equities research analysts have also issued reports on the stock. Credit Suisse Group initiated coverage on shares of CyrusOne in a report on Friday, June 30th. They issued an “outperform” rating and a $73.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $58.00 price objective (up previously from $56.00) on shares of CyrusOne in a report on Wednesday, May 17th. TheStreet lowered shares of CyrusOne from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of CyrusOne in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of CyrusOne from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $59.29.
CyrusOne (CONE) opened at 56.44 on Monday. CyrusOne has a 12 month low of $38.80 and a 12 month high of $60.55. The company’s 50 day moving average is $57.51 and its 200 day moving average is $53.40. The stock’s market cap is $4.52 billion.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $166.90 million for the quarter, compared to analysts’ expectations of $165.71 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. CyrusOne’s quarterly revenue was up 28.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Thursday, September 28th. CyrusOne’s dividend payout ratio (DPR) is -541.92%.
In other CyrusOne news, CEO Gary J. Wojtaszek sold 38,294 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $58.01, for a total transaction of $2,221,434.94. Following the transaction, the chief executive officer now owns 511,621 shares of the company’s stock, valued at approximately $29,679,134.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin L. Timmons sold 8,600 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $57.89, for a total transaction of $497,854.00. Following the transaction, the insider now directly owns 170,137 shares in the company, valued at approximately $9,849,230.93. The disclosure for this sale can be found here. Insiders have sold a total of 126,894 shares of company stock worth $7,342,489 in the last three months. Insiders own 1.64% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealthsource Partners LLC increased its position in CyrusOne by 6.7% in the first quarter. Wealthsource Partners LLC now owns 11,048 shares of the real estate investment trust’s stock worth $569,000 after buying an additional 690 shares during the period. American International Group Inc. increased its position in CyrusOne by 8,513.1% in the first quarter. American International Group Inc. now owns 148,232 shares of the real estate investment trust’s stock worth $7,630,000 after buying an additional 146,511 shares during the period. Point72 Asset Management L.P. acquired a new position in CyrusOne during the first quarter worth approximately $7,659,000. Alliancebernstein L.P. increased its position in CyrusOne by 3.8% in the first quarter. Alliancebernstein L.P. now owns 67,319 shares of the real estate investment trust’s stock worth $3,465,000 after buying an additional 2,494 shares during the period. Finally, Utah Retirement Systems increased its position in CyrusOne by 7.8% in the first quarter. Utah Retirement Systems now owns 13,900 shares of the real estate investment trust’s stock worth $715,000 after buying an additional 1,000 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.
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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