Zacks Investment Research upgraded shares of CyrusOne (NASDAQ:CONE) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $83.00 target price on the real estate investment trust’s stock.
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. “
A number of other equities analysts also recently commented on the stock. UBS Group downgraded shares of CyrusOne from a buy rating to a neutral rating and cut their price objective for the stock from $64.00 to $62.00 in a research report on Thursday, June 13th. TheStreet downgraded shares of CyrusOne from a b- rating to a c rating in a research report on Wednesday, July 31st. Raymond James upped their price objective on shares of CyrusOne from $68.00 to $72.00 and gave the stock a strong-buy rating in a research report on Friday, August 2nd. BidaskClub downgraded shares of CyrusOne from a strong-buy rating to a buy rating in a research report on Thursday, September 12th. Finally, BMO Capital Markets restated a buy rating and set a $66.00 price objective on shares of CyrusOne in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. CyrusOne has a consensus rating of Buy and an average target price of $68.93.
Shares of CyrusOne stock opened at $77.57 on Wednesday. The company has a market cap of $8.63 billion, a P/E ratio of 23.44, a PEG ratio of 1.42 and a beta of 0.55. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.58 and a current ratio of 1.58. CyrusOne has a one year low of $48.94 and a one year high of $79.73. The firm has a fifty day moving average of $69.83 and a two-hundred day moving average of $60.46.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.09. The company had revenue of $251.50 million during the quarter, compared to the consensus estimate of $238.01 million. CyrusOne had a negative net margin of 7.44% and a negative return on equity of 2.45%. CyrusOne’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, equities analysts predict that CyrusOne will post 3.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, September 26th. This is a boost from CyrusOne’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.58%. CyrusOne’s dividend payout ratio is 55.59%.
Several large investors have recently bought and sold shares of CONE. Nuveen Asset Management LLC grew its stake in shares of CyrusOne by 617.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,051,779 shares of the real estate investment trust’s stock worth $291,589,000 after purchasing an additional 4,347,725 shares during the period. Cohen & Steers Inc. grew its stake in CyrusOne by 20.6% in the 2nd quarter. Cohen & Steers Inc. now owns 14,063,823 shares of the real estate investment trust’s stock valued at $811,764,000 after acquiring an additional 2,398,840 shares during the last quarter. Vanguard Group Inc. grew its stake in CyrusOne by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 16,216,705 shares of the real estate investment trust’s stock valued at $936,029,000 after acquiring an additional 482,530 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in CyrusOne in the 2nd quarter valued at about $27,012,000. Finally, Westfield Capital Management Co. LP acquired a new stake in CyrusOne in the 1st quarter valued at about $15,665,000.
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 212 Fortune 1000 companies.
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