CyrusOne Inc (CONE) Given Average Recommendation of “Hold” by Analysts

CyrusOne Inc (NASDAQ:CONE) has earned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.20.

CONE has been the topic of a number of recent research reports. Bank of America upgraded shares of CyrusOne from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Friday. Credit Suisse Group cut shares of CyrusOne from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $52.00 in a research note on Monday, February 25th. Royal Bank of Canada dropped their price target on shares of CyrusOne to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. BidaskClub upgraded shares of CyrusOne from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Wells Fargo & Co restated a “buy” rating on shares of CyrusOne in a research note on Thursday, February 21st.

CONE traded down $0.62 during midday trading on Wednesday, reaching $57.49. The company had a trading volume of 1,001,056 shares, compared to its average volume of 1,147,146. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.25. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.22 and a beta of 0.87. CyrusOne has a 12-month low of $48.94 and a 12-month high of $69.01.

CyrusOne (NASDAQ:CONE) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. The firm had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $223.80 million. CyrusOne had a net margin of 0.15% and a return on equity of 0.06%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. As a group, sell-side analysts anticipate that CyrusOne will post 3.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, March 28th. CyrusOne’s payout ratio is currently 55.59%.

In other news, Director Michael Klayko bought 1,955 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $51.10 per share, with a total value of $99,900.50. Following the acquisition, the director now owns 12,016 shares of the company’s stock, valued at approximately $614,017.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary J. Wojtaszek bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were purchased at an average cost of $49.86 per share, for a total transaction of $199,440.00. Following the acquisition, the chief executive officer now directly owns 396,534 shares in the company, valued at approximately $19,771,185.24. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Sageworth Trust Co bought a new stake in CyrusOne during the 1st quarter worth approximately $26,000. Pearl River Capital LLC bought a new stake in CyrusOne during the 4th quarter worth approximately $27,000. Oregon Public Employees Retirement Fund increased its holdings in CyrusOne by 5,517.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,191,559 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 2,152,545 shares during the period. Truvestments Capital LLC bought a new stake in CyrusOne during the 1st quarter worth approximately $49,000. Finally, Proficio Capital Partners LLC increased its holdings in CyrusOne by 59.4% during the 4th quarter. Proficio Capital Partners LLC now owns 1,098 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 409 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

CyrusOne Company Profile

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 208 Fortune 1000 companies.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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