CyrusOne (NASDAQ:CONE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. William Blair began coverage on CyrusOne in a research note on Friday, September 22nd. They set an “outperform” rating on the stock. KeyCorp reaffirmed a “hold” rating on shares of CyrusOne in a research note on Tuesday, September 12th. BidaskClub cut CyrusOne from a “hold” rating to a “sell” rating in a research note on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 target price on shares of CyrusOne in a research note on Thursday, September 14th. Finally, Cowen reaffirmed a “buy” rating and set a $78.00 target price on shares of CyrusOne in a research note on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.15.
Shares of CyrusOne (CONE) traded down $0.33 during midday trading on Tuesday, reaching $58.74. The company’s stock had a trading volume of 764,265 shares, compared to its average volume of 800,418. 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 has a 52 week low of $46.41 and a 52 week high of $65.73. The company has a market capitalization of $5,360.00, a PE ratio of -59.94, a P/E/G ratio of 0.94 and a beta of 0.79.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The company had revenue of $175.30 million for the quarter, compared to the consensus estimate of $177.62 million. During the same period in the previous year, the firm earned $0.67 earnings per share. The company’s revenue was up 21.9% compared to the same quarter last year. equities analysts predict that CyrusOne will post 3.08 EPS for the current year.
In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total value of $812,700.00. Following the transaction, the insider now owns 214,063 shares of the company’s stock, valued at $12,886,592.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.64% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC grew its stake in CyrusOne by 44.8% in the second quarter. Perigon Wealth Management LLC now owns 4,525 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 1,400 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in CyrusOne by 81.2% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,012 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 2,246 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in CyrusOne by 14.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 325,495 shares of the real estate investment trust’s stock worth $18,147,000 after buying an additional 40,044 shares during the period. Citigroup Inc. lifted its holdings in CyrusOne by 486.5% during the second quarter. Citigroup Inc. now owns 435,484 shares of the real estate investment trust’s stock worth $24,278,000 after buying an additional 361,238 shares during the period. Finally, Lenox Wealth Management Inc. lifted its holdings in CyrusOne by 514.1% during the second quarter. Lenox Wealth Management Inc. now owns 6,141 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 5,141 shares during the period. 96.67% of the stock is currently owned by institutional investors.
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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.
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