CyrusOne Inc (CONE) Stock Rating Reaffirmed by Cowen and Company

CyrusOne Inc (NASDAQ:CONE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cowen and Company in a report issued on Wednesday. They currently have a $78.00 price target on the real estate investment trust’s stock. Cowen and Company’s price objective would suggest a potential upside of 27.06% from the company’s current price.

A number of other equities analysts also recently commented on the company. KeyCorp reiterated a “hold” rating on shares of CyrusOne in a research report on Tuesday, September 12th. Stifel Nicolaus reiterated a “buy” rating and set a $66.00 price objective on shares of CyrusOne in a research report on Thursday, September 14th. William Blair initiated coverage on CyrusOne in a research report on Friday, September 22nd. They set an “outperform” rating on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $63.00 price objective on shares of CyrusOne in a research report on Tuesday, July 25th. Finally, Macquarie reiterated an “outperform” rating and set a $58.00 price objective on shares of CyrusOne in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. CyrusOne has a consensus rating of “Buy” and a consensus price target of $61.54.

CyrusOne (NASDAQ:CONE) opened at 61.39 on Wednesday. CyrusOne has a 52-week low of $38.80 and a 52-week high of $65.73.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.27% and a negative net margin of 13.60%. The company had revenue of $175.30 million for the quarter, compared to analysts’ expectations of $177.62 million. During the same quarter in the previous year, the business posted $0.67 EPS. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities research analysts expect that CyrusOne will post ($0.24) earnings per share for the current fiscal year.

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In other CyrusOne 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 owns 24,296 shares of the company’s stock, valued at $1,433,464. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.64% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of CONE. Prudential Financial Inc. increased its stake in CyrusOne by 702.7% during the first quarter. Prudential Financial Inc. now owns 46,386 shares of the real estate investment trust’s stock worth $2,387,000 after acquiring an additional 40,607 shares during the last quarter. Alliancebernstein L.P. increased its stake in CyrusOne by 3.8% during the first quarter. Alliancebernstein L.P. now owns 67,319 shares of the real estate investment trust’s stock worth $3,465,000 after acquiring an additional 2,494 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in CyrusOne by 20.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 388 shares during the last quarter. Legal & General Group Plc increased its stake in CyrusOne by 405.0% during the first quarter. Legal & General Group Plc now owns 46,875 shares of the real estate investment trust’s stock worth $2,412,000 after acquiring an additional 37,592 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in CyrusOne by 8.8% during the first quarter. Geode Capital Management LLC now owns 592,679 shares of the real estate investment trust’s stock worth $30,505,000 after acquiring an additional 48,176 shares during the last quarter. 97.17% of the stock is 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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