CyrusOne (NASDAQ:CONE) Stock Rating Reaffirmed by Stifel Nicolaus

CyrusOne (NASDAQ:CONE)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research note issued on Tuesday, TipRanks reports. They currently have a $85.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 31.27% from the company’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lowered CyrusOne from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $71.00 to $77.00 in a report on Friday, November 1st. BMO Capital Markets restated a “buy” rating and set a $66.00 price target on shares of CyrusOne in a research report on Monday, August 5th. Guggenheim set a $81.00 price objective on shares of CyrusOne and gave the company a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Co cut their price objective on shares of CyrusOne from $85.00 to $78.00 in a report on Friday, November 1st. Finally, Zacks Investment Research cut CyrusOne from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $73.62.

Shares of CyrusOne stock opened at $64.75 on Tuesday. The company has a market capitalization of $7.05 billion, a PE ratio of 19.56, a P/E/G ratio of 1.16 and a beta of 0.44. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50-day simple moving average of $68.70 and a two-hundred day simple moving average of $66.47. CyrusOne has a one year low of $48.94 and a one year high of $79.73.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.75). CyrusOne had a negative net margin of 1.30% and a negative return on equity of 0.08%. The company had revenue of $250.90 million for the quarter, compared to analysts’ expectations of $247.81 million. During the same period last year, the firm earned $0.79 earnings per share. CyrusOne’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, equities analysts predict that CyrusOne will post 3.57 earnings per share for the current fiscal year.

In other CyrusOne news, CAO Mark Skomal sold 1,083 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $68.47, for a total value of $74,153.01. Following the transaction, the chief accounting officer now owns 5,515 shares of the company’s stock, valued at $377,612.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin L. Timmons sold 24,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $70.53, for a total transaction of $1,692,720.00. Following the completion of the transaction, the executive vice president now directly owns 101,583 shares in the company, valued at approximately $7,164,648.99. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its position in CyrusOne by 5.7% in the 2nd quarter. Arizona State Retirement System now owns 82,138 shares of the real estate investment trust’s stock valued at $4,741,000 after acquiring an additional 4,402 shares in the last quarter. Strs Ohio raised its holdings in CyrusOne by 95.0% during the second quarter. Strs Ohio now owns 421,129 shares of the real estate investment trust’s stock worth $24,307,000 after purchasing an additional 205,141 shares in the last quarter. Virginia Retirement Systems ET AL boosted its holdings in shares of CyrusOne by 72.9% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 112,200 shares of the real estate investment trust’s stock valued at $6,476,000 after buying an additional 47,300 shares in the last quarter. Bailard Inc. acquired a new stake in CyrusOne during the 2nd quarter worth $294,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in CyrusOne by 86.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 128,741 shares of the real estate investment trust’s stock valued at $7,431,000 after acquiring an additional 59,867 shares during the last quarter. 99.89% of the stock is owned by hedge funds and other institutional investors.

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 212 Fortune 1000 companies.

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