CyrusOne Inc (NASDAQ:CONE) – Equities research analysts at SunTrust Banks decreased their FY2018 EPS estimates for CyrusOne in a research note issued on Wednesday, October 31st. SunTrust Banks analyst G. Miller now expects that the real estate investment trust will post earnings per share of $3.29 for the year, down from their prior estimate of $3.33. SunTrust Banks also issued estimates for CyrusOne’s Q1 2019 earnings at $0.90 EPS, Q2 2019 earnings at $0.91 EPS, Q3 2019 earnings at $0.91 EPS, Q4 2019 earnings at $0.89 EPS and FY2019 earnings at $3.60 EPS.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($1.23). CyrusOne had a return on equity of 5.68% and a net margin of 14.07%. The business had revenue of $206.60 million during the quarter, compared to the consensus estimate of $209.33 million. During the same period last year, the company earned $0.79 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year.
A number of other brokerages have also issued reports on CONE. BidaskClub lowered CyrusOne from a “buy” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine raised CyrusOne from a “hold” rating to a “buy” rating in a report on Friday, September 14th. BMO Capital Markets reissued a “buy” rating and issued a $74.00 price objective on shares of CyrusOne in a report on Tuesday, October 30th. Bank of America increased their price objective on CyrusOne from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, Jefferies Financial Group increased their price target on CyrusOne from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 28th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $67.81.
Shares of CONE stock opened at $55.48 on Friday. CyrusOne has a 12-month low of $43.49 and a 12-month high of $69.01. The company has a market capitalization of $5.87 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.64 and a quick ratio of 1.00.
Large investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its position in shares of 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 acquiring an additional 970 shares during the last quarter. Quad Cities Investment Group LLC acquired a new stake in shares of CyrusOne during the 2nd quarter valued at $164,000. NumerixS Investment Technologies Inc acquired a new stake in shares of CyrusOne during the 2nd quarter valued at $179,000. CIBC Asset Management Inc acquired a new stake in shares of CyrusOne during the 2nd quarter valued at $204,000. Finally, First Hawaiian Bank acquired a new stake in shares of CyrusOne during the 3rd quarter valued at $215,000. Institutional investors own 91.72% of the company’s stock.
In other CyrusOne news, insider Venkatesh S. Durvasula sold 5,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $64.96, for a total transaction of $324,800.00. Following the completion of the transaction, the insider now directly owns 227,712 shares of the company’s stock, valued at approximately $14,792,171.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin L. Timmons sold 7,374 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $67.16, for a total value of $495,237.84. Following the transaction, the insider now directly owns 179,490 shares of the company’s stock, valued at $12,054,548.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,169 shares of company stock valued at $1,602,197. 1.64% of the stock is currently owned by corporate insiders.
The company also recently declared 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 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, December 31st. CyrusOne’s payout ratio 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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