CyrusOne Inc (CONE) Stock Rating Reaffirmed by Jefferies Group LLC
CyrusOne Inc (NASDAQ:CONE)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a research report issued on Monday. They presently have a $69.00 target price on the real estate investment trust’s stock. Jefferies Group LLC’s price target suggests a potential upside of 12.58% from the stock’s current price.
Other analysts also recently issued research reports about the company. Macquarie reiterated an “outperform” rating and set a $58.00 price target on shares of CyrusOne in a research note on Tuesday, July 4th. BidaskClub upgraded CyrusOne from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Cowen and Company restated a “buy” rating and set a $72.00 target price on shares of CyrusOne in a research note on Friday, July 28th. Zacks Investment Research upgraded CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of CyrusOne in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $60.77.
Shares of CyrusOne (NASDAQ:CONE) opened at 61.29 on Monday. CyrusOne has a one year low of $38.80 and a one year high of $65.73.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $166.90 million during the quarter, compared to the consensus estimate of $165.71 million. CyrusOne had a positive return on equity of 1.30% and a negative net margin of 4.35%. The firm’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. Analysts forecast that CyrusOne will post ($0.24) earnings per share for the current fiscal year.
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In related news, EVP Robert M. Jackson sold 1,890 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 24,296 shares of the company’s stock, valued at approximately $1,433,464. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.64% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in CyrusOne by 20.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 388 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in CyrusOne during the 2nd quarter valued at $124,000. Public Employees Retirement Association of Colorado increased its holdings in CyrusOne by 21.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 484 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in CyrusOne by 941.7% during the 1st quarter. Perigon Wealth Management LLC now owns 3,125 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 2,825 shares in the last quarter. Finally, Janney Capital Management LLC acquired a new stake in CyrusOne during the 2nd quarter valued at $210,000. 96.47% of the stock is owned by hedge funds and other institutional investors.
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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