KeyCorp Research Analysts Cut Earnings Estimates for CyrusOne Inc (CONE)

CyrusOne Inc (NASDAQ:CONE) – KeyCorp decreased their FY2019 earnings estimates for CyrusOne in a report issued on Sunday, December 2nd. KeyCorp analyst J. Sadler now anticipates that the real estate investment trust will post earnings per share of $3.62 for the year, down from their prior forecast of $3.71.

CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($1.23). CyrusOne had a net margin of 14.07% and a return on equity of 5.68%. The firm had revenue of $206.60 million for the quarter, compared to the consensus estimate of $209.33 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year.

A number of other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of CyrusOne from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. BMO Capital Markets decreased their price objective on shares of CyrusOne from $74.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Stifel Nicolaus set a $70.00 price objective on shares of CyrusOne and gave the stock a “buy” rating in a report on Thursday, November 1st. Jefferies Financial Group decreased their price objective on shares of CyrusOne from $75.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Finally, Cowen decreased their price objective on shares of CyrusOne from $79.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, November 1st. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $67.43.

NASDAQ:CONE opened at $57.59 on Tuesday. CyrusOne has a 52 week low of $43.49 and a 52 week high of $69.01. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $5.94 billion, a P/E ratio of 17.05, a PEG ratio of 1.12 and a beta of 1.05.

Large investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in CyrusOne during the 2nd quarter valued at about $253,000. BNP Paribas Arbitrage SA grew its position in CyrusOne by 119.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 29,918 shares of the real estate investment trust’s stock valued at $1,746,000 after purchasing an additional 16,299 shares during the last quarter. Aperio Group LLC grew its position in CyrusOne by 7.5% during the 2nd quarter. Aperio Group LLC now owns 72,351 shares of the real estate investment trust’s stock valued at $4,222,000 after purchasing an additional 5,056 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in CyrusOne by 9.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 181,706 shares of the real estate investment trust’s stock valued at $10,604,000 after purchasing an additional 15,833 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in CyrusOne by 7.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 100,684 shares of the real estate investment trust’s stock valued at $5,876,000 after purchasing an additional 7,033 shares during the last quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, January 2nd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, December 31st. CyrusOne’s dividend payout ratio is presently 58.97%.

About CyrusOne

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 200 Fortune 1000 companies.

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Earnings History and Estimates for CyrusOne (NASDAQ:CONE)

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