ValuEngine Downgrades CyrusOne (CONE) to Hold
CyrusOne (NASDAQ:CONE) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other analysts have also recently commented on the company. KeyCorp reiterated a “hold” rating on shares of CyrusOne in a research report on Tuesday, September 12th. Deutsche Bank reiterated a “buy” rating and set a $71.00 target price on shares of CyrusOne in a research report on Friday, November 10th. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 target price on shares of CyrusOne in a research report on Thursday, September 14th. Jefferies Group reiterated a “buy” rating and set a $69.00 target price on shares of CyrusOne in a research report on Monday, October 16th. Finally, William Blair started coverage on CyrusOne in a research report on Friday, September 22nd. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.15.
Shares of CyrusOne (NASDAQ:CONE) opened at $61.24 on Friday. CyrusOne has a 52 week low of $40.81 and a 52 week high of $65.73. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $5,590.00, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.10 and a beta of 0.81.
CyrusOne (NASDAQ:CONE) last posted its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The firm had revenue of $175.30 million for the quarter, compared to analyst estimates of $177.62 million. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. equities research analysts predict that CyrusOne will post 3.09 EPS for the current year.
In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the firm’s 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 transaction, the insider now owns 214,063 shares of the company’s stock, valued at $12,886,592.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.64% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings in shares of CyrusOne by 232.6% during the third quarter. IFP Advisors Inc now owns 1,713 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,198 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in CyrusOne by 3,032.8% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,911 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 1,850 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in CyrusOne in the 2nd quarter valued at approximately $124,000. Public Employees Retirement Association of Colorado boosted its holdings 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 purchasing an additional 484 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in CyrusOne by 32.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,031 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 751 shares in the last quarter. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
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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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