CyrusOne (CONE) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of CyrusOne (NASDAQ:CONE) from a hold rating to a sell rating in a research note published on Tuesday morning.

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. “

A number of other research analysts have also recently issued reports on the company. KeyCorp reaffirmed a hold rating on shares of CyrusOne in a research note on Tuesday, September 12th. Deutsche Bank reaffirmed a buy rating and set a $71.00 price objective on shares of CyrusOne in a research note on Friday, November 10th. Stifel Nicolaus reaffirmed a buy rating and set a $66.00 price objective on shares of CyrusOne in a research note on Thursday, September 14th. ValuEngine cut CyrusOne from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, Morgan Stanley raised their price objective on CyrusOne from $63.00 to $70.00 and gave the company an overweight rating in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $64.15.

Shares of CyrusOne (CONE) traded down $1.04 during trading hours on Tuesday, hitting $56.07. The stock had a trading volume of 2,093,100 shares, compared to its average volume of 1,057,138. CyrusOne has a 52-week low of $46.41 and a 52-week high of $65.73. The company has a market capitalization of $5,040.00, a PE ratio of -57.21, a P/E/G ratio of 0.94 and a beta of 0.79. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.56.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The company had revenue of $175.30 million for the quarter, compared to the consensus estimate of $177.62 million. During the same period last year, the business posted $0.67 earnings per share. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. research analysts expect that CyrusOne will post 3.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.00%. CyrusOne’s payout ratio is -171.43%.

In other news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total transaction of $812,700.00. Following the completion of the transaction, the insider now directly owns 214,063 shares in the company, valued at $12,886,592.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.64% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in CONE. IFP Advisors Inc lifted its holdings in shares of CyrusOne by 232.6% during the third quarter. IFP Advisors Inc now owns 1,713 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,198 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of CyrusOne by 3,032.8% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,911 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 1,850 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of CyrusOne by 32.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,031 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 751 shares in the last quarter. Bbva Compass Bancshares Inc. bought a new stake in shares of CyrusOne during the third quarter valued at approximately $202,000. Finally, Cipher Capital LP bought a new stake in shares of CyrusOne during the third quarter valued at approximately $221,000. Hedge funds and other institutional investors own 96.67% of the company’s stock.

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About CyrusOne

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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