CyrusOne Inc (CONE) Receives $62.20 Average Target Price from Analysts

CyrusOne Inc (NASDAQ:CONE) has been given an average rating of “Buy” by the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $64.10.

Several equities research analysts recently commented on CONE shares. TheStreet upgraded shares of CyrusOne from a “c” rating to a “b-” rating in a research note on Wednesday, May 1st. Stifel Nicolaus set a $62.00 price target on shares of CyrusOne and gave the stock a “buy” rating in a research note on Friday, February 22nd. Wells Fargo & Co reiterated a “buy” rating on shares of CyrusOne in a research note on Thursday, February 21st. BMO Capital Markets reiterated a “buy” rating and set a $68.00 price target on shares of CyrusOne in a research note on Wednesday, February 20th. Finally, BidaskClub upgraded shares of CyrusOne from a “hold” rating to a “buy” rating in a research note on Monday, February 4th.

In other news, Director Michael Klayko purchased 1,955 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $51.10 per share, for a total transaction of $99,900.50. Following the completion of the purchase, the director now directly owns 12,016 shares in the company, valued at approximately $614,017.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kevin L. Timmons sold 19,600 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $51.14, for a total transaction of $1,002,344.00. Following the sale, the executive vice president now directly owns 152,965 shares in the company, valued at approximately $7,822,630.10. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Sageworth Trust Co purchased a new stake in shares of CyrusOne in the first quarter valued at about $26,000. Lenox Wealth Management Inc. purchased a new stake in shares of CyrusOne in the first quarter valued at about $26,000. Pearl River Capital LLC purchased a new stake in shares of CyrusOne in the fourth quarter valued at about $27,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of CyrusOne by 5,517.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,191,559 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 2,152,545 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of CyrusOne in the first quarter valued at about $49,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

CyrusOne stock opened at $59.64 on Friday. The firm has a market cap of $6.46 billion, a PE ratio of 18.02, a PEG ratio of 1.33 and a beta of 0.87. CyrusOne has a 12-month low of $48.94 and a 12-month high of $69.01. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.59 and a quick ratio of 1.59.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The business had revenue of $225.00 million during the quarter, compared to analysts’ expectations of $231.36 million. CyrusOne had a net margin of 5.54% and a return on equity of 2.15%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. As a group, sell-side analysts forecast that CyrusOne will post 3.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.84 dividend on an annualized basis and a yield of 3.09%. CyrusOne’s dividend payout ratio is presently 55.59%.

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 211 Fortune 1000 companies.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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