CyrusOne (CONE) PT Lowered to $66.00 at Jefferies Financial Group

CyrusOne (NASDAQ:CONE) had its price objective reduced by Jefferies Financial Group from $75.00 to $66.00 in a research note released on Thursday morning. Jefferies Financial Group currently has a buy rating on the real estate investment trust’s stock. Jefferies Financial Group also issued estimates for CyrusOne’s Q1 2019 earnings at $0.84 EPS, Q2 2019 earnings at $0.85 EPS and Q4 2019 earnings at $0.94 EPS.

CONE has been the subject of a number of other research reports. MED lifted their price objective on shares of CyrusOne from $58.00 to $68.00 and gave the company an overweight rating in a report on Thursday, August 2nd. BidaskClub cut shares of CyrusOne from a strong-buy rating to a buy rating in a report on Wednesday, September 5th. Cowen dropped their price objective on shares of CyrusOne from $79.00 to $67.00 and set a buy rating for the company in a report on Thursday. They noted that the move was a valuation call. BMO Capital Markets set a $74.00 price objective on shares of CyrusOne and gave the company a buy rating in a report on Monday, August 27th. Finally, ValuEngine cut shares of CyrusOne from a buy rating to a hold rating in a report on Thursday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $67.81.

Shares of CONE traded up $1.47 during trading on Thursday, reaching $55.48. 1,691,656 shares of the company traded hands, compared to its average volume of 1,131,612. CyrusOne has a twelve month low of $43.49 and a twelve month high of $69.01. The stock has a market cap of $5.87 billion, a PE ratio of 17.78, a P/E/G ratio of 1.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.64 and a quick ratio of 1.00.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($1.23). CyrusOne had a net margin of 14.07% and a return on equity of 5.68%. The company had revenue of $206.60 million for the quarter, compared to analyst estimates of $209.33 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. CyrusOne’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that CyrusOne will post 3.27 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, January 2nd will be paid a $0.46 dividend. The ex-dividend date is Monday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 3.32%. CyrusOne’s dividend payout ratio is currently 58.97%.

In related news, insider Venkatesh S. Durvasula sold 5,000 shares of CyrusOne stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $64.96, for a total value of $324,800.00. Following the completion of the transaction, the insider now owns 227,712 shares in the company, valued at $14,792,171.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin L. Timmons sold 7,374 shares of CyrusOne stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $67.16, for a total transaction of $495,237.84. Following the completion of the transaction, the insider now owns 179,490 shares of the company’s stock, valued at approximately $12,054,548.40. The disclosure for this sale can be found here. Insiders sold 24,169 shares of company stock valued at $1,602,197 in the last quarter. 1.64% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in CyrusOne by 95.8% in the third quarter. IFP Advisors Inc now owns 1,982 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 970 shares during the last quarter. Quad Cities Investment Group LLC purchased a new position in CyrusOne in the second quarter worth approximately $164,000. NumerixS Investment Technologies Inc purchased a new position in CyrusOne in the second quarter worth approximately $179,000. CIBC Asset Management Inc purchased a new position in CyrusOne in the second quarter worth approximately $204,000. Finally, First Hawaiian Bank purchased a new position in CyrusOne in the third quarter worth approximately $215,000. Institutional investors own 91.72% 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 200 Fortune 1000 companies.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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