Analysts Set CyrusOne Inc (NASDAQ:CONE) PT at $82.59

CyrusOne Inc (NASDAQ:CONE) has been assigned an average rating of “Hold” from the twenty-three analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $82.59.

A number of research analysts recently issued reports on CONE shares. Barclays started coverage on shares of CyrusOne in a research note on Wednesday, July 15th. They issued an “equal weight” rating and a $82.00 price target for the company. Deutsche Bank raised their price objective on shares of CyrusOne from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Raymond James reissued a “buy” rating on shares of CyrusOne in a report on Thursday, August 6th. BidaskClub cut shares of CyrusOne from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, TheStreet cut shares of CyrusOne from a “b-” rating to a “c+” rating in a report on Wednesday, September 9th.

CyrusOne stock traded down $1.61 during trading on Wednesday, reaching $70.43. The stock had a trading volume of 722,855 shares, compared to its average volume of 1,255,038. CyrusOne has a 52-week low of $43.72 and a 52-week high of $86.77. The business has a 50 day moving average price of $79.95 and a 200 day moving average price of $72.13. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.29. The stock has a market cap of $8.23 billion, a PE ratio of 414.32, a P/E/G ratio of 0.85 and a beta of 0.46.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.54). CyrusOne had a return on equity of 3.32% and a net margin of 2.01%. The firm had revenue of $256.40 million during the quarter, compared to analysts’ expectations of $251.59 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that CyrusOne will post 3.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. This is a positive change from CyrusOne’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, September 24th. CyrusOne’s dividend payout ratio (DPR) is 55.10%.

In related news, EVP Kevin L. Timmons sold 5,000 shares of CyrusOne stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $83.20, for a total value of $416,000.00. Following the transaction, the executive vice president now directly owns 48,880 shares in the company, valued at approximately $4,066,816. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

A number of large investors have recently bought and sold shares of CONE. Principal Financial Group Inc. grew its position in CyrusOne by 109.5% in the 2nd quarter. Principal Financial Group Inc. now owns 5,087,198 shares of the real estate investment trust’s stock valued at $370,094,000 after buying an additional 2,658,586 shares during the last quarter. PGGM Investments boosted its position in shares of CyrusOne by 270.3% during the 2nd quarter. PGGM Investments now owns 1,883,790 shares of the real estate investment trust’s stock worth $137,046,000 after purchasing an additional 1,375,091 shares in the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of CyrusOne during the 2nd quarter worth $82,811,000. Resolution Capital Ltd boosted its position in shares of CyrusOne by 135.6% during the 2nd quarter. Resolution Capital Ltd now owns 1,432,636 shares of the real estate investment trust’s stock worth $104,224,000 after purchasing an additional 824,486 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in shares of CyrusOne by 173.4% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,183,883 shares of the real estate investment trust’s stock worth $73,105,000 after purchasing an additional 750,883 shares in the last quarter. Hedge funds and other institutional investors own 98.34% 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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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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