CyrusOne Inc (NASDAQ:CONE) – Equities research analysts at Mitsubishi UFJ Financial Group decreased their FY2018 earnings estimates for CyrusOne in a research note issued on Wednesday, October 31st. Mitsubishi UFJ Financial Group analyst S. Bersey now forecasts that the real estate investment trust will post earnings per share of $3.28 for the year, down from their previous estimate of $3.39. Mitsubishi UFJ Financial Group also issued estimates for CyrusOne’s Q4 2018 earnings at $0.83 EPS, Q2 2019 earnings at $0.97 EPS, Q3 2019 earnings at $0.98 EPS, Q4 2019 earnings at $1.03 EPS and FY2019 earnings at $3.91 EPS.
CyrusOne (NASDAQ:CONE) last released its earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($1.23). The firm had revenue of $206.60 million during the quarter, compared to analyst estimates of $209.33 million. CyrusOne had a return on equity of 5.99% and a net margin of 14.07%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share.
Several other research firms have also recently issued reports on CONE. BidaskClub raised CyrusOne from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 7th. Bank of America upped their price target on CyrusOne from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, July 13th. Stifel Nicolaus assumed coverage on CyrusOne in a report on Tuesday, July 17th. They issued a “buy” rating and a $70.00 price target on the stock. BMO Capital Markets assumed coverage on CyrusOne in a report on Tuesday, July 17th. They issued an “outperform” rating and a $73.00 price target on the stock. Finally, Credit Suisse Group set a $73.00 price target on CyrusOne and gave the company a “buy” rating in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. CyrusOne has an average rating of “Buy” and a consensus price target of $67.81.
CONE opened at $53.46 on Friday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.00 and a beta of 0.84. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.00 and a quick ratio of 1.00. CyrusOne has a 1-year low of $43.49 and a 1-year high of $69.01.
A number of large investors have recently made changes to their positions in the business. FDx Advisors Inc. raised its stake in CyrusOne by 6.3% during the 2nd quarter. FDx Advisors Inc. now owns 13,030 shares of the real estate investment trust’s stock valued at $760,000 after purchasing an additional 778 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in CyrusOne by 5.2% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,006 shares of the real estate investment trust’s stock valued at $934,000 after purchasing an additional 784 shares during the period. Hilltop Holdings Inc. raised its stake in CyrusOne by 6.5% during the 2nd quarter. Hilltop Holdings Inc. now owns 13,509 shares of the real estate investment trust’s stock valued at $788,000 after purchasing an additional 827 shares during the period. IFP Advisors Inc raised its stake in CyrusOne by 95.8% during the 3rd quarter. IFP Advisors Inc now owns 1,982 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 970 shares during the period. Finally, US Bancorp DE raised its stake in CyrusOne by 3.1% during the 3rd quarter. US Bancorp DE now owns 32,664 shares of the real estate investment trust’s stock valued at $2,070,000 after purchasing an additional 994 shares during the period. 91.72% of the stock is currently owned by institutional investors.
In other CyrusOne news, EVP Robert M. Jackson sold 1,795 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $65.27, for a total transaction of $117,159.65. Following the sale, the executive vice president now directly owns 25,497 shares of the company’s stock, valued at approximately $1,664,189.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Venkatesh S. Durvasula sold 5,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $64.96, for a total transaction of $324,800.00. Following the sale, the insider now directly owns 227,712 shares in the company, valued at $14,792,171.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,169 shares of company stock worth $1,602,197. Company insiders own 1.64% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, January 2nd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.44%. The ex-dividend date is Monday, December 31st. CyrusOne’s dividend payout ratio (DPR) is currently 58.97%.
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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