CyrusOne (NASDAQ:CONE) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of CyrusOne (NASDAQ:CONE) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. They currently have $66.00 target price on the real estate investment trust’s stock.

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 a number of other research reports. BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Deutsche Bank upped their target price on Walmart from $118.00 to $120.00 and gave the company a buy rating in a research note on Friday, May 17th. Berenberg Bank reduced their target price on Intu Properties from GBX 130 ($1.70) to GBX 100 ($1.31) and set a hold rating on the stock in a research note on Tuesday, May 7th. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a report on Monday, June 3rd. Finally, Royal Bank of Canada downgraded Zayo Group from an outperform rating to a sector perform rating and boosted their price target for the company from $33.00 to $35.00 in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $63.72.

Shares of NASDAQ:CONE opened at $59.62 on Tuesday. The stock’s 50 day moving average price is $59.19. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.16 and a beta of 0.66. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.59 and a quick ratio of 1.59. CyrusOne has a 12 month low of $48.94 and a 12 month high of $69.01.

CyrusOne (NASDAQ:CONE) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. CyrusOne had a return on equity of 2.15% and a net margin of 5.54%. The firm had revenue of $225.00 million for the quarter, compared to analyst estimates of $231.36 million. During the same quarter in the prior year, the company earned $0.85 EPS. CyrusOne’s revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts expect that CyrusOne will post 3.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.09%. CyrusOne’s payout ratio is 55.59%.

Hedge funds have recently added to or reduced their stakes in the company. Sageworth Trust Co acquired a new stake in shares of CyrusOne during the 1st quarter worth $26,000. Lenox Wealth Management Inc. acquired a new stake in shares of CyrusOne during the 1st quarter worth $26,000. Tortoise Index Solutions LLC acquired a new stake in shares of CyrusOne during the 1st quarter worth $40,000. Nvwm LLC increased its holdings in shares of CyrusOne by 69.6% during the 1st quarter. Nvwm LLC now owns 916 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 376 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of CyrusOne during the 1st quarter worth $49,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

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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