CyrusOne Inc (NASDAQ:CONE) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.
CONE has been the subject of several other reports. TheStreet cut CyrusOne from a “b-” rating to a “c” rating in a research note on Wednesday, May 3rd. Stifel Nicolaus raised their price objective on CyrusOne from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Mitsubishi UFJ Financial Group initiated coverage on CyrusOne in a research note on Tuesday, April 25th. They issued a “neutral” rating and a $54.00 price objective for the company. Cowen and Company raised their price objective on CyrusOne from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, June 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of CyrusOne in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $60.69.
Shares of CyrusOne (NASDAQ:CONE) opened at 59.86 on Wednesday. CyrusOne has a 1-year low of $38.80 and a 1-year high of $61.26.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data 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. CyrusOne had a positive return on equity of 1.30% and a negative net margin of 4.35%. The firm had revenue of $166.90 million during the quarter, compared to analysts’ expectations of $165.71 million. During the same period last year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities analysts predict that CyrusOne will post ($0.21) earnings per share for the current fiscal year.
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In other CyrusOne news, insider Gary J. Wojtaszek sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $57.79, for a total value of $4,623,200.00. Following the sale, the insider now directly owns 511,621 shares of the company’s stock, valued at $29,566,577.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert M. Jackson sold 1,890 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $59.00, for a total value of $111,510.00. Following the completion of the sale, the executive vice president now directly owns 24,296 shares in the company, valued at $1,433,464. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,784 shares of company stock worth $7,453,999. 1.64% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CONE. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CyrusOne during the second quarter valued at approximately $424,000. Public Employees Retirement System of Ohio raised its stake in shares of 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 buying an additional 2,590 shares during the last quarter. Wealthsource Partners LLC raised its stake in shares of CyrusOne by 7.0% in the second quarter. Wealthsource Partners LLC now owns 11,823 shares of the real estate investment trust’s stock valued at $659,000 after buying an additional 775 shares during the last quarter. 1st Global Advisors Inc. acquired a new stake in shares of CyrusOne during the second quarter valued at approximately $225,000. Finally, Westwood Holdings Group Inc. raised its stake in shares of CyrusOne by 21.6% in the second quarter. Westwood Holdings Group Inc. now owns 24,030 shares of the real estate investment trust’s stock valued at $1,340,000 after buying an additional 4,268 shares during the last quarter. 93.41% of the stock is currently owned by 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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