CyrusOne (CONE) PT Lowered to $66.00

CyrusOne (NASDAQ:CONE) had its target price cut by Jefferies Financial Group from $75.00 to $66.00 in a research note published on Thursday morning. They currently have a buy rating on the real estate investment trust’s stock. Jefferies Financial Group also issued estimates for CyrusOne’s Q1 2019 earnings at $0.84 EPS, Q2 2019 earnings at $0.85 EPS and Q4 2019 earnings at $0.94 EPS.

A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of CyrusOne from a strong-buy rating to a buy rating in a research note on Thursday, September 27th. Zacks Investment Research lowered shares of CyrusOne from a hold rating to a strong sell rating in a research note on Monday, October 8th. Wells Fargo & Co set a $66.00 target price on shares of CyrusOne and gave the company a buy rating in a research note on Thursday, October 18th. ValuEngine raised shares of CyrusOne from a hold rating to a buy rating in a research note on Friday, September 14th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $74.00 target price on shares of CyrusOne in a research note on Tuesday, October 30th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $67.81.

CONE stock opened at $55.48 on Thursday. CyrusOne has a 12-month low of $43.49 and a 12-month high of $69.01. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.11 and a beta of 1.05. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.64 and a current ratio of 0.64.

CyrusOne (NASDAQ:CONE) last released 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 net margin of 14.07% and a return on equity of 5.68%. The firm had revenue of $206.60 million during the quarter, compared to analysts’ expectations of $209.33 million. During the same quarter in the previous year, the firm posted $0.79 EPS. CyrusOne’s revenue was up 17.9% compared to the same quarter last year. As a group, equities analysts predict that CyrusOne will post 3.27 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors 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 3.32%. The ex-dividend date of this dividend is Monday, December 31st. CyrusOne’s payout ratio is currently 58.97%.

In related news, EVP Robert M. Jackson sold 1,795 shares of the business’s stock in a transaction dated 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 owns 25,497 shares of the company’s stock, valued at $1,664,189.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary J. Wojtaszek sold 10,000 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $66.50, for a total transaction of $665,000.00. Following the sale, the insider now directly owns 519,936 shares in the company, valued at approximately $34,575,744. The disclosure for this sale can be found here. Insiders have sold 19,169 shares of company stock worth $1,277,397 in the last three months. 1.40% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of CONE. Daiwa Securities Group Inc. boosted its stake in CyrusOne by 664.8% during the third quarter. Daiwa Securities Group Inc. now owns 2,469,880 shares of the real estate investment trust’s stock worth $156,590,000 after acquiring an additional 2,146,941 shares in the last quarter. Cbre Clarion Securities LLC boosted its stake in CyrusOne by 16.9% during the second quarter. Cbre Clarion Securities LLC now owns 3,889,685 shares of the real estate investment trust’s stock worth $227,002,000 after acquiring an additional 560,940 shares in the last quarter. Janus Henderson Group PLC boosted its stake in CyrusOne by 42.2% during the second quarter. Janus Henderson Group PLC now owns 1,784,177 shares of the real estate investment trust’s stock worth $104,121,000 after acquiring an additional 529,722 shares in the last quarter. Millennium Management LLC bought a new stake in CyrusOne during the second quarter worth about $26,144,000. Finally, Standard Life Aberdeen plc bought a new stake in CyrusOne during the second quarter worth about $16,467,000. 91.78% 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 200 Fortune 1000 companies.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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