CyrusOne Inc Expected to Earn FY2017 Earnings of $3.04 Per Share (CONE)
CyrusOne Inc (NASDAQ:CONE) – Stock analysts at KeyCorp upped their FY2017 EPS estimates for shares of CyrusOne in a research note issued to investors on Thursday. KeyCorp analyst J. Sadler now forecasts that the real estate investment trust will post earnings per share of $3.04 for the year, up from their prior forecast of $3.01. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for CyrusOne’s FY2018 earnings at $3.39 EPS.
CyrusOne (NASDAQ:CONE) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.03. CyrusOne had a positive return on equity of 1.30% and a negative net margin of 4.35%. The business had revenue of $166.90 million for the quarter, compared to analysts’ expectations of $165.71 million. During the same period in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year.
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A number of other equities research analysts have also recently commented on CONE. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of CyrusOne in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and set a $69.00 target price on shares of CyrusOne in a research report on Monday, August 14th. Cowen and Company restated a “buy” rating and set a $72.00 target price on shares of CyrusOne in a research report on Friday, July 28th. BidaskClub raised shares of CyrusOne from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Finally, Zacks Investment Research raised shares of CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $60.77.
Shares of CyrusOne (NASDAQ:CONE) traded down 0.71% during trading on Monday, reaching $59.15. The company had a trading volume of 42,321 shares. CyrusOne has a 12 month low of $38.80 and a 12 month high of $65.73.
Several hedge funds have recently bought and sold shares of CONE. Perigon Wealth Management LLC grew its position in shares of CyrusOne by 44.8% in the second quarter. Perigon Wealth Management LLC now owns 4,525 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 1,400 shares during the period. Intl Fcstone Inc. acquired a new position in CyrusOne in the second quarter valued at $1,108,000. Dynamic Technology Lab Private Ltd acquired a new position in CyrusOne in the second quarter valued at $424,000. Public Employees Retirement System of Ohio increased its stake in CyrusOne by 7.6% in the second quarter. Public Employees Retirement System of Ohio now owns 36,810 shares of the real estate investment trust’s stock valued at $2,052,000 after purchasing an additional 2,590 shares during the last quarter. Finally, Wealthsource Partners LLC lifted its position in CyrusOne by 7.0% during the second quarter. Wealthsource Partners LLC now owns 11,823 shares of the real estate investment trust’s stock worth $659,000 after buying an additional 775 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.
In other CyrusOne news, EVP Robert M. Jackson sold 1,890 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $59.00, for a total transaction of $111,510.00. Following the transaction, the executive vice president now owns 24,296 shares of the company’s stock, valued at approximately $1,433,464. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.64% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 annualized dividend and a yield of 2.82%. CyrusOne’s dividend payout ratio (DPR) is presently -541.92%.
CyrusOne Company Profile
CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.
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