CyrusOne Inc (CONE) Receives Average Recommendation of “Buy” from Brokerages

CyrusOne Inc (NASDAQ:CONE) has received an average recommendation of “Buy” from the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $67.73.

Several research firms have commented on CONE. BidaskClub raised shares of CyrusOne from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Deutsche Bank raised their target price on shares of CyrusOne from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, May 31st. Guggenheim set a $65.00 target price on shares of CyrusOne and gave the company a “buy” rating in a research note on Friday, February 23rd. Credit Suisse Group set a $73.00 target price on shares of CyrusOne and gave the company a “buy” rating in a research note on Friday, April 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $67.00 target price on shares of CyrusOne in a research note on Tuesday, February 27th.

Shares of NASDAQ:CONE opened at $57.85 on Thursday. The stock has a market capitalization of $5.78 billion, a P/E ratio of 18.54, a PEG ratio of 1.04 and a beta of 0.80. CyrusOne has a fifty-two week low of $43.49 and a fifty-two week high of $65.73. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.07 and a current ratio of 2.07.



CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The firm had revenue of $196.60 million for the quarter, compared to the consensus estimate of $185.86 million. CyrusOne had a negative net margin of 1.33% and a negative return on equity of 0.60%. CyrusOne’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. research analysts expect that CyrusOne will post 3.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.18%. CyrusOne’s dividend payout ratio is currently 58.97%.

Institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position in shares of CyrusOne by 0.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 126,093 shares of the real estate investment trust’s stock worth $6,457,000 after acquiring an additional 953 shares in the last quarter. Advisor Group Inc. increased its position in shares of CyrusOne by 6.1% in the fourth quarter. Advisor Group Inc. now owns 18,504 shares of the real estate investment trust’s stock worth $1,102,000 after acquiring an additional 1,061 shares in the last quarter. Amalgamated Bank increased its position in shares of CyrusOne by 5.8% in the first quarter. Amalgamated Bank now owns 19,964 shares of the real estate investment trust’s stock worth $1,022,000 after acquiring an additional 1,089 shares in the last quarter. Schroder Investment Management Group increased its position in shares of CyrusOne by 14.1% in the fourth quarter. Schroder Investment Management Group now owns 11,335 shares of the real estate investment trust’s stock worth $675,000 after acquiring an additional 1,398 shares in the last quarter. Finally, Invictus RG increased its position in shares of CyrusOne by 34.5% in the fourth quarter. Invictus RG now owns 6,326 shares of the real estate investment trust’s stock worth $377,000 after acquiring an additional 1,624 shares in the last quarter. 98.58% of the stock is currently owned by institutional investors.

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 200 Fortune 1000 companies.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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