CyrusOne (CONE) Upgraded by BidaskClub to Strong-Buy

CyrusOne (NASDAQ:CONE) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday, September 12th.

A number of other equities research analysts have also weighed in on CONE. BMO Capital Markets initiated coverage on shares of CyrusOne in a report on Tuesday, July 17th. They issued an “outperform” rating and a $73.00 target price on the stock. MED upped their price objective on shares of CyrusOne from $58.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Royal Bank of Canada upped their price objective on shares of CyrusOne to $73.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 7th. Deutsche Bank upped their price objective on shares of CyrusOne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 31st. Finally, Stifel Nicolaus initiated coverage on shares of CyrusOne in a research report on Tuesday, July 17th. They issued a “buy” rating and a $70.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $69.75.

Shares of CyrusOne stock traded down $0.36 during trading on Wednesday, hitting $61.63. The company’s stock had a trading volume of 997,900 shares, compared to its average volume of 1,126,080. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.20. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.17 and a beta of 0.84. CyrusOne has a 52 week low of $43.49 and a 52 week high of $69.01.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.78. CyrusOne had a net margin of 12.96% and a return on equity of 5.65%. The firm had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.33 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities analysts anticipate that CyrusOne will post 3.3 earnings per share for the current fiscal year.

In other CyrusOne news, insider Venkatesh S. Durvasula sold 5,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $64.96, for a total value of $324,800.00. Following the sale, the insider now directly owns 227,712 shares in the company, valued at approximately $14,792,171.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert M. Jackson sold 1,795 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $65.27, for a total transaction of $117,159.65. Following the completion of the sale, the executive vice president now owns 25,497 shares in the company, valued at $1,664,189.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,169 shares of company stock valued at $1,602,197. 1.40% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in CyrusOne by 1.4% in the 1st quarter. Wells Fargo & Company MN now owns 524,931 shares of the real estate investment trust’s stock worth $26,880,000 after buying an additional 7,189 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in CyrusOne by 12.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 93,651 shares of the real estate investment trust’s stock worth $4,796,000 after buying an additional 10,027 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CyrusOne by 101.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,999 shares of the real estate investment trust’s stock worth $1,741,000 after buying an additional 17,150 shares during the last quarter. Prudential Financial Inc. boosted its stake in CyrusOne by 4.3% in the 1st quarter. Prudential Financial Inc. now owns 60,482 shares of the real estate investment trust’s stock worth $3,097,000 after buying an additional 2,470 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in CyrusOne by 0.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 126,093 shares of the real estate investment trust’s stock worth $6,457,000 after buying an additional 953 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

About CyrusOne

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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