CyrusOne (CONE) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research lowered shares of CyrusOne (NASDAQ:CONE) from a hold rating to a sell rating in a report released on Tuesday.
According to Zacks, “CyrusOne Inc. is a real estate investment trust engaged in providing enterprise data centre colocation, engineering facilities with the highest power redundancy (2N architecture) and power-density infrastructure services in the United States, Europe, and Asia. CyrusOne Inc. is headquartered in Carrollton, United States. “
CONE has been the topic of a number of other research reports. Deutsche Bank reaffirmed a buy rating and set a $71.00 target price on shares of CyrusOne in a research note on Friday, November 10th. Morgan Stanley upped their target price on CyrusOne from $63.00 to $70.00 and gave the company an overweight rating in a research note on Friday, November 17th. KeyCorp reaffirmed a hold rating on shares of CyrusOne in a research note on Tuesday, September 12th. Stifel Nicolaus reaffirmed a buy rating and set a $66.00 target price on shares of CyrusOne in a research note on Thursday, September 14th. Finally, BidaskClub cut CyrusOne from a hold rating to a sell rating in a research note on Saturday, January 6th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $64.15.
Shares of CyrusOne (NASDAQ CONE) opened at $55.26 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.48 and a current ratio of 0.48. CyrusOne has a 52 week low of $46.41 and a 52 week high of $65.73. The firm has a market capitalization of $5,119.69, a P/E ratio of -56.97, a price-to-earnings-growth ratio of 0.90 and a beta of 0.79.
CyrusOne (NASDAQ:CONE) last released its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.37). The business had revenue of $175.30 million for the quarter, compared to the consensus estimate of $177.62 million. CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. equities analysts predict that CyrusOne will post 3.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a $0.42 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.04%. CyrusOne’s payout ratio is -173.19%.
In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total value of $812,700.00. Following the completion of the sale, the insider now owns 214,063 shares in the company, valued at $12,886,592.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.64% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC boosted its holdings in shares of CyrusOne by 44.8% in the second quarter. Perigon Wealth Management LLC now owns 4,525 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 1,400 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in CyrusOne by 81.2% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,012 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 2,246 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in CyrusOne by 14.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 325,495 shares of the real estate investment trust’s stock worth $18,147,000 after buying an additional 40,044 shares during the period. Citigroup Inc. lifted its holdings in CyrusOne by 486.5% during the second quarter. Citigroup Inc. now owns 435,484 shares of the real estate investment trust’s stock worth $24,278,000 after buying an additional 361,238 shares during the period. Finally, Stifel Financial Corp lifted its holdings in CyrusOne by 7.5% during the third quarter. Stifel Financial Corp now owns 52,245 shares of the real estate investment trust’s stock worth $3,077,000 after buying an additional 3,636 shares during the period. Hedge funds and other institutional investors own 96.67% of the company’s stock.
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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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