BidaskClub upgraded shares of CyrusOne (NASDAQ:CONE) from a buy rating to a strong-buy rating in a research report released on Tuesday.
CONE has been the subject of a number of other reports. Credit Suisse Group set a $73.00 price objective on CyrusOne and gave the stock a buy rating in a research note on Wednesday, May 16th. Zacks Investment Research upgraded CyrusOne from a sell rating to a hold rating in a research note on Monday, May 7th. Royal Bank of Canada upped their price objective on CyrusOne to $73.00 and gave the stock a market perform rating in a research note on Tuesday, August 7th. BMO Capital Markets initiated coverage on CyrusOne in a research note on Tuesday, July 17th. They set an outperform rating and a $73.00 price objective for the company. Finally, Bank of America upped their price objective on CyrusOne from $60.00 to $65.00 and gave the stock a buy rating in a research note on Friday, July 13th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $69.47.
Shares of NASDAQ CONE opened at $67.39 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $6.59 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.23 and a beta of 0.85. CyrusOne has a 1-year low of $43.49 and a 1-year high of $67.89.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.78. The firm had revenue of $196.90 million during the quarter, compared to analysts’ expectations of $199.33 million. CyrusOne had a return on equity of 5.65% and a net margin of 12.96%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. equities analysts forecast that CyrusOne will post 3.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 27th. CyrusOne’s dividend payout ratio is currently 58.97%.
In related news, insider Venkatesh S. Durvasula sold 5,000 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $64.96, for a total transaction of $324,800.00. Following the transaction, the insider now directly owns 227,712 shares of the company’s stock, valued at approximately $14,792,171.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert M. Jackson sold 1,514 shares of the company’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $60.00, for a total value of $90,840.00. Following the transaction, the executive vice president now directly owns 29,799 shares in the company, valued at $1,787,940. The disclosure for this sale can be found here. Insiders have sold a total of 18,309 shares of company stock worth $1,197,800 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CONE. Summit Trail Advisors LLC increased its holdings in shares of CyrusOne by 6,756.5% in the first quarter. Summit Trail Advisors LLC now owns 113,406 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 111,752 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of CyrusOne in the second quarter valued at about $164,000. NumerixS Investment Technologies Inc acquired a new position in shares of CyrusOne in the second quarter valued at about $179,000. CIBC Asset Management Inc acquired a new position in shares of CyrusOne in the second quarter valued at about $204,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in shares of CyrusOne in the second quarter valued at about $227,000. 97.69% of the stock is currently owned by institutional investors.
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 200 Fortune 1000 companies.
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