CyrusOne (NASDAQ:CONE) Downgraded by Zacks Investment Research

CyrusOne (NASDAQ:CONE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

A number of other brokerages also recently commented on CONE. Bank of America set a $144.00 price objective on Walt Disney and gave the stock a “buy” rating in a research report on Friday, April 12th. BMO Capital Markets set a $66.00 price objective on CyrusOne and gave the stock a “buy” rating in a research report on Friday, May 3rd. UBS Group set a €110.00 ($127.91) price objective on Wacker Chemie and gave the stock a “buy” rating in a research report on Thursday, June 13th. TheStreet downgraded ZTO Express (Cayman) from a “b+” rating to a “c” rating in a research report on Wednesday, May 1st. Finally, BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $63.72.

Shares of CyrusOne stock traded up $0.80 on Wednesday, reaching $58.85. 666,500 shares of the company were exchanged, compared to its average volume of 1,004,902. CyrusOne has a 1-year low of $48.94 and a 1-year high of $69.01. The company has a market capitalization of $6.57 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.17 and a beta of 0.66. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.59 and a current ratio of 1.59. The stock’s 50 day moving average is $59.22.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. CyrusOne had a return on equity of 2.15% and a net margin of 5.54%. The business had revenue of $225.00 million during the quarter, compared to the consensus estimate of $231.36 million. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities research analysts expect that CyrusOne will post 3.36 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in CONE. Fox Run Management L.L.C. purchased a new stake in shares of CyrusOne during the second quarter worth approximately $339,000. Foster & Motley Inc. purchased a new stake in shares of CyrusOne during the second quarter worth approximately $265,000. Oregon Public Employees Retirement Fund raised its stake in shares of CyrusOne by 8.1% during the second quarter. Oregon Public Employees Retirement Fund now owns 45,704 shares of the real estate investment trust’s stock worth $2,638,000 after purchasing an additional 3,441 shares during the last quarter. Spirit of America Management Corp NY raised its stake in shares of CyrusOne by 3.5% during the second quarter. Spirit of America Management Corp NY now owns 51,050 shares of the real estate investment trust’s stock worth $2,947,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of CyrusOne by 795.5% during the second quarter. Truvestments Capital LLC now owns 8,445 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 7,502 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other 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 212 Fortune 1000 companies.

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