BidaskClub Lowers CyrusOne (CONE) to Buy

CyrusOne (NASDAQ:CONE) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

A number of other brokerages also recently weighed in on CONE. ValuEngine upgraded CyrusOne from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. BMO Capital Markets started coverage on CyrusOne in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $73.00 target price on the stock. Bank of America boosted their target price on CyrusOne from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, July 13th. Credit Suisse Group set a $73.00 target price on CyrusOne and gave the stock a “buy” rating in a research note on Friday, June 1st. Finally, Jefferies Financial Group boosted their target price on CyrusOne from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 28th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $69.75.

Shares of NASDAQ CONE opened at $61.95 on Thursday. CyrusOne has a twelve month low of $43.49 and a twelve month high of $69.01. The company has a market capitalization of $6.47 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.82. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.20.

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

In related news, insider Venkatesh S. Durvasula sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $64.96, for a total value of $324,800.00. Following the transaction, the insider now owns 227,712 shares in the company, valued at $14,792,171.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert M. Jackson sold 1,514 shares of the company’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $60.00, for a total value of $90,840.00. Following the completion of the transaction, the executive vice president now owns 29,799 shares in the company, valued at approximately $1,787,940. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,683 shares of company stock worth $1,693,037. 1.40% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in CyrusOne by 1.5% during the 2nd quarter. BlackRock Inc. now owns 9,289,151 shares of the real estate investment trust’s stock valued at $542,115,000 after acquiring an additional 138,110 shares during the period. Cbre Clarion Securities LLC raised its holdings in CyrusOne by 16.9% during the 2nd quarter. Cbre Clarion Securities LLC now owns 3,889,685 shares of the real estate investment trust’s stock valued at $227,002,000 after acquiring an additional 560,940 shares during the period. Bank of America Corp DE raised its holdings in CyrusOne by 5.2% during the 2nd quarter. Bank of America Corp DE now owns 2,888,856 shares of the real estate investment trust’s stock valued at $168,594,000 after acquiring an additional 142,445 shares during the period. JPMorgan Chase & Co. raised its holdings in CyrusOne by 56.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,496,761 shares of the real estate investment trust’s stock valued at $127,859,000 after acquiring an additional 899,515 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in CyrusOne by 42.2% during the 2nd quarter. Janus Henderson Group PLC now owns 1,784,177 shares of the real estate investment trust’s stock valued at $104,121,000 after acquiring an additional 529,722 shares during the period. Institutional investors and hedge funds 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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