CyrusOne (NASDAQ:CONE) Rating Lowered to Hold at Zacks Investment Research

CyrusOne (NASDAQ:CONE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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. “

Other analysts also recently issued reports about the stock. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Royal Bank of Canada downgraded shares of Zayo Group from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $33.00 to $35.00 in a research report on Wednesday, May 8th. TheStreet downgraded shares of ZTO Express (Cayman) from a “b+” rating to a “c” rating in a research report on Wednesday, May 1st. UBS Group set a €110.00 ($127.91) target price on shares of Wacker Chemie and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Bank of America set a $144.00 target price on shares of Walt Disney and gave the stock a “buy” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. CyrusOne has a consensus rating of “Buy” and a consensus price target of $63.80.

CyrusOne stock traded down $1.16 during mid-day trading on Tuesday, reaching $58.59. 26,272 shares of the company traded hands, compared to its average volume of 1,025,901. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s 50 day moving average price is $59.76. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. CyrusOne has a 52-week low of $48.94 and a 52-week high of $69.01.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. The business had revenue of $225.00 million for the quarter, compared to the consensus estimate of $231.36 million. CyrusOne had a net margin of 5.54% and a return on equity of 2.15%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. As a group, analysts anticipate that CyrusOne will post 3.36 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Campbell Newman Asset Management Inc. grew its position in CyrusOne by 2.4% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 8,117 shares of the real estate investment trust’s stock valued at $426,000 after purchasing an additional 188 shares during the last quarter. Quad Cities Investment Group LLC grew its position in CyrusOne by 10.0% during the 1st quarter. Quad Cities Investment Group LLC now owns 2,200 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 200 shares during the last quarter. First Hawaiian Bank grew its position in CyrusOne by 2.1% during the 1st quarter. First Hawaiian Bank now owns 11,427 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 234 shares during the last quarter. Oakbrook Investments LLC grew its position in CyrusOne by 5.4% during the 1st quarter. Oakbrook Investments LLC now owns 5,850 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 300 shares during the last quarter. Finally, Nvwm LLC lifted its stake in CyrusOne by 69.6% during the 1st quarter. Nvwm LLC now owns 916 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 376 shares during the period. 98.04% of the stock is currently owned by institutional investors.

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 212 Fortune 1000 companies.

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