CyrusOne (NASDAQ:CONE) Cut to “Sell” at Zacks Investment Research

CyrusOne (NASDAQ:CONE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, January 9th.

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 several other reports. William Blair initiated coverage on shares of CyrusOne in a report on Friday, September 22nd. They set an “outperform” rating on the stock. KeyCorp restated a “hold” rating on shares of CyrusOne in a report on Tuesday, September 12th. BidaskClub downgraded shares of CyrusOne from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of CyrusOne in a report on Thursday, September 14th. Finally, Cowen restated a “buy” rating and set a $78.00 target price on shares of CyrusOne in a report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. CyrusOne has a consensus rating of “Buy” and an average price target of $64.15.

Shares of CyrusOne (NASDAQ:CONE) traded up $0.74 during midday trading on Tuesday, hitting $56.00. 1,593,200 shares of the stock traded hands, compared to its average volume of 1,329,140. CyrusOne has a one year low of $46.41 and a one year high of $65.73. The company has a market cap of $5,130.00, a price-to-earnings ratio of -57.14, a PEG ratio of 0.88 and a beta of 0.79. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.56.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The firm had revenue of $175.30 million for the quarter, compared to the consensus estimate of $177.62 million. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. equities research analysts expect that CyrusOne will post 3.08 EPS for the current year.

In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total value of $812,700.00. Following the completion of the transaction, the insider now directly owns 214,063 shares of the company’s stock, valued at $12,886,592.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.64% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC boosted its position in CyrusOne by 44.8% during the second quarter. Perigon Wealth Management LLC now owns 4,525 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 1,400 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position 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 purchasing an additional 2,246 shares during the period. Schwab Charles Investment Management Inc. boosted its position 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 purchasing an additional 40,044 shares during the period. Stifel Financial Corp boosted its position 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 purchasing an additional 3,636 shares during the period. Finally, Citigroup Inc. boosted its position 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 purchasing an additional 361,238 shares during the period. 96.67% of the stock is owned by hedge funds and other institutional investors.

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About CyrusOne

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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