CyrusOne (NASDAQ:CONE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $82.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.07% from the stock’s previous close.
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. “
Several other research analysts have also recently weighed in on CONE. UBS Group cut CyrusOne from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $64.00 to $62.00 in a research report on Thursday, June 13th. Berenberg Bank raised CyrusOne from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $69.00 in a research report on Tuesday, May 7th. Stifel Nicolaus reissued a “buy” rating on shares of CyrusOne in a research report on Friday, August 16th. Bank of America set a $80.00 price objective on CyrusOne and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Raymond James upped their price target on CyrusOne from $68.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. CyrusOne currently has an average rating of “Buy” and a consensus target price of $67.18.
CONE stock traded up $1.19 during midday trading on Wednesday, hitting $74.50. The company’s stock had a trading volume of 150,318 shares, compared to its average volume of 1,032,112. The stock’s 50-day moving average price is $64.90 and its 200 day moving average price is $58.91. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.16. CyrusOne has a 1 year low of $48.94 and a 1 year high of $75.48. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.37 and a beta of 0.55.
CyrusOne (NASDAQ:CONE) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.09. CyrusOne had a negative return on equity of 2.45% and a negative net margin of 7.44%. The business had revenue of $251.50 million for the quarter, compared to analysts’ expectations of $238.01 million. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s revenue was up 27.7% on a year-over-year basis. As a group, equities analysts forecast that CyrusOne will post 3.54 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of CONE. Comerica Securities Inc. purchased a new position in shares of CyrusOne during the 4th quarter valued at $225,000. Dimensional Fund Advisors LP raised its stake in shares of CyrusOne by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,443,931 shares of the real estate investment trust’s stock valued at $76,355,000 after purchasing an additional 37,467 shares during the period. Geode Capital Management LLC raised its stake in shares of CyrusOne by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 1,094,343 shares of the real estate investment trust’s stock valued at $57,868,000 after purchasing an additional 105,930 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of CyrusOne during the 1st quarter valued at $415,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of CyrusOne by 1,370.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,305 shares of the real estate investment trust’s stock valued at $1,275,000 after purchasing an additional 22,652 shares during the period. 99.90% of the stock is currently 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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