CyrusOne Inc (NASDAQ:CONE) – KeyCorp boosted their FY2019 earnings per share (EPS) estimates for CyrusOne in a report released on Monday, October 7th. KeyCorp analyst J. Sadler now forecasts that the real estate investment trust will earn $3.60 per share for the year, up from their previous forecast of $3.40. KeyCorp also issued estimates for CyrusOne’s FY2020 earnings at $3.88 EPS.
Several other research firms have also commented on CONE. Stifel Nicolaus reiterated a “buy” rating on shares of CyrusOne in a research report on Friday, August 16th. Zacks Investment Research upgraded shares of CyrusOne from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Wednesday. Morgan Stanley increased their price objective on shares of CyrusOne from $68.00 to $78.50 and gave the company an “overweight” rating in a research report on Thursday, September 19th. TheStreet lowered shares of CyrusOne from a “b-” rating to a “c” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $66.00 price objective on shares of CyrusOne in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $69.13.
Shares of NASDAQ:CONE opened at $76.10 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a fifty day moving average price of $74.89 and a 200 day moving average price of $63.22. CyrusOne has a fifty-two week low of $48.94 and a fifty-two week high of $79.73. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.44 and a beta of 0.53.
CyrusOne (NASDAQ:CONE) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.09. CyrusOne had a negative net margin of 7.44% and a negative return on equity of 2.45%. The firm had revenue of $251.50 million during the quarter, compared to analyst estimates of $238.01 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. CyrusOne’s revenue for the quarter was up 27.7% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. increased its stake in CyrusOne by 190.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 353 shares during the period. Pearl River Capital LLC purchased a new position in CyrusOne in the 2nd quarter worth about $94,000. Rockefeller Capital Management L.P. increased its stake in CyrusOne by 743.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,780 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 1,569 shares during the period. SG3 Management LLC purchased a new position in CyrusOne in the 2nd quarter worth about $115,000. Finally, Parallel Advisors LLC increased its stake in CyrusOne by 11.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 211 shares during the period.
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from CyrusOne’s previous quarterly dividend of $0.46. CyrusOne’s dividend payout ratio (DPR) is currently 60.42%.
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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