CyrusOne (NASDAQ:CONE) Lowered to Market Perform at BMO Capital Markets

CyrusOne (NASDAQ:CONE) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $67.00 price target on the real estate investment trust’s stock, down from their previous price target of $73.00. BMO Capital Markets’ price objective would suggest a potential upside of 4.69% from the company’s previous close.

Several other equities research analysts have also issued reports on CONE. Morgan Stanley decreased their target price on CyrusOne from $78.50 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lowered CyrusOne from an “overweight” rating to a “neutral” rating and raised their target price for the company from $71.00 to $77.00 in a research report on Friday, November 1st. ValuEngine raised CyrusOne from a “sell” rating to a “hold” rating in a research report on Saturday, December 7th. Wells Fargo & Co reaffirmed a “buy” rating on shares of CyrusOne in a research report on Monday, December 9th. Finally, Raymond James reaffirmed a “buy” rating and set a $82.00 target price (up from $72.00) on shares of CyrusOne in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.77.

NASDAQ:CONE traded up $0.75 during trading hours on Tuesday, hitting $64.00. 129,219 shares of the company traded hands, compared to its average volume of 909,521. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.21. The firm’s 50-day simple moving average is $64.01 and its 200-day simple moving average is $67.28. CyrusOne has a one year low of $48.94 and a one year high of $79.73. The company has a market cap of $6.98 billion, a PE ratio of 19.34, a PEG ratio of 1.04 and a beta of 0.44.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.75). CyrusOne had a negative net margin of 1.30% and a negative return on equity of 0.08%. The company had revenue of $250.90 million for the quarter, compared to the consensus estimate of $247.81 million. During the same quarter last year, the business posted $0.79 earnings per share. CyrusOne’s revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts expect that CyrusOne will post 3.57 EPS for the current year.

In related news, CAO Mark Skomal sold 1,083 shares of CyrusOne stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.47, for a total value of $74,153.01. Following the completion of the sale, the chief accounting officer now owns 5,515 shares of the company’s stock, valued at approximately $377,612.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary J. Wojtaszek sold 13,361 shares of CyrusOne stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $65.00, for a total value of $868,465.00. Following the completion of the sale, the chief executive officer now directly owns 346,008 shares of the company’s stock, valued at approximately $22,490,520. The disclosure for this sale can be found here. In the last three months, insiders sold 143,539 shares of company stock valued at $9,667,068. 1.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CONE. Prime Capital Investment Advisors LLC bought a new position in CyrusOne in the 3rd quarter worth about $29,000. FNY Investment Advisers LLC bought a new position in CyrusOne in the 4th quarter worth about $32,000. Meeder Asset Management Inc. boosted its stake in CyrusOne by 4,750.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 582 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 570 shares during the period. Howe & Rusling Inc. boosted its stake in CyrusOne by 36.4% in the 3rd quarter. Howe & Rusling Inc. now owns 750 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 200 shares during the period. Finally, Strategic Blueprint LLC bought a new position in CyrusOne in the 3rd quarter worth about $86,000.

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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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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