BidaskClub Downgrades CyrusOne (CONE) to Strong Sell

BidaskClub cut shares of CyrusOne (NASDAQ:CONE) from a sell rating to a strong sell rating in a research report report published on Saturday.

A number of other research analysts also recently weighed in on CONE. William Blair started coverage on shares of CyrusOne in a research report on Friday, September 22nd. They issued an outperform rating for the company. Jefferies Group reiterated a buy rating and issued a $69.00 price objective on shares of CyrusOne in a research report on Monday, October 16th. Cowen reiterated a buy rating and issued a $78.00 price objective on shares of CyrusOne in a research report on Wednesday, November 1st. UBS Group reiterated a buy rating and issued a $70.00 price objective (up previously from $63.00) on shares of CyrusOne in a research report on Wednesday, November 1st. Finally, Mitsubishi UFJ Financial Group upgraded shares of CyrusOne from a neutral rating to an overweight rating in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $65.08.

CyrusOne (NASDAQ CONE) traded up $0.32 during midday trading on Friday, reaching $55.42. 1,049,692 shares of the company were exchanged, compared to its average volume of 913,237. The firm has a market capitalization of $5,060.34, a P/E ratio of -57.13, a PEG ratio of 0.89 and a beta of 0.79. CyrusOne has a 52 week low of $46.41 and a 52 week high of $65.73. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.56.

CyrusOne (NASDAQ:CONE) last posted its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.37). The business had revenue of $175.30 million for the quarter, compared to analyst estimates of $177.62 million. CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 earnings per share. equities analysts predict that CyrusOne will post 3.08 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.03%. CyrusOne’s dividend payout ratio is currently -173.19%.

In other news, insider Venkatesh S. Durvasula sold 13,500 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total transaction of $812,700.00. Following the completion of the sale, the insider now owns 214,063 shares of the company’s stock, valued at $12,886,592.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.64% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC increased its stake in shares of CyrusOne by 1.6% during the second quarter. Zevenbergen Capital Investments LLC now owns 11,405 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 175 shares in the last quarter. Flinton Capital Management LLC grew its stake in CyrusOne by 2.1% during the 2nd quarter. Flinton Capital Management LLC now owns 24,378 shares of the real estate investment trust’s stock valued at $1,359,000 after acquiring an additional 510 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in CyrusOne by 32.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,031 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 751 shares in the last quarter. Wealthsource Partners LLC grew its stake in CyrusOne by 7.0% during the 2nd quarter. Wealthsource Partners LLC now owns 11,823 shares of the real estate investment trust’s stock valued at $659,000 after acquiring an additional 775 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in CyrusOne by 0.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 123,574 shares of the real estate investment trust’s stock valued at $7,282,000 after acquiring an additional 880 shares in the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.

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CyrusOne Company Profile

CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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