Jefferies Group Comments on CyrusOne Inc’s Q2 2017 Earnings (CONE)

CyrusOne Inc (NASDAQ:CONE) – Equities researchers at Jefferies Group raised their Q2 2017 earnings per share estimates for shares of CyrusOne in a research note issued on Monday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings of $0.74 per share for the quarter, up from their previous forecast of $0.71. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for CyrusOne’s Q3 2017 earnings at $0.75 EPS, Q4 2017 earnings at $0.81 EPS, FY2018 earnings at $3.57 EPS and FY2019 earnings at $3.90 EPS.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of CyrusOne in a report on Monday. Stifel Nicolaus lifted their price objective on shares of CyrusOne from $56.00 to $60.00 and gave the company a “buy” rating in a report on Friday, May 5th. TheStreet cut shares of CyrusOne from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Barclays PLC lifted their target price on shares of CyrusOne from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, April 25th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of CyrusOne in a research report on Tuesday, April 25th. They set a “neutral” rating and a $54.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $56.58.

Earnings History and Estimates for CyrusOne (NASDAQ:CONE)

ILLEGAL ACTIVITY WARNING: This report was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.chaffeybreeze.com/2017/05/20/jefferies-group-comments-on-cyrusone-incs-q2-2017-earnings-cone-updated.html.

Shares of CyrusOne (NASDAQ:CONE) opened at 53.85 on Wednesday. The company’s market cap is $4.55 billion. The stock’s 50 day moving average is $52.63 and its 200-day moving average is $47.87. CyrusOne has a 12 month low of $38.80 and a 12 month high of $57.00.

CyrusOne (NASDAQ:CONE) last announced its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $149.30 million during the quarter, compared to analyst estimates of $150.63 million. CyrusOne had a net margin of 3.58% and a return on equity of 1.78%.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.12%. CyrusOne’s dividend payout ratio (DPR) is presently 723.84%.

In other CyrusOne news, insider Venkatesh S. Durvasula sold 10,000 shares of CyrusOne stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $50.69, for a total value of $506,900.00. Following the completion of the transaction, the insider now owns 239,342 shares of the company’s stock, valued at $12,132,245.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Venkatesh S. Durvasula sold 11,779 shares of CyrusOne stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $50.90, for a total transaction of $599,551.10. Following the completion of the transaction, the insider now directly owns 227,563 shares of the company’s stock, valued at approximately $11,582,956.70. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in CONE. Harvest Fund Management Co. Ltd purchased a new position in shares of CyrusOne during the fourth quarter valued at about $125,000. Kemper Corp Master Retirement Trust increased its stake in CyrusOne by 42.2% in the third quarter. Kemper Corp Master Retirement Trust now owns 2,950 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 875 shares during the last quarter. Pitcairn Co. bought a new stake in CyrusOne during the first quarter valued at about $204,000. Comerica Bank bought a new stake in CyrusOne during the fourth quarter valued at about $203,000. Finally, Campbell Newman Asset Management Inc. bought a new stake in CyrusOne during the first quarter valued at about $216,000. 96.42% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:CONE

Receive News & Ratings for CyrusOne Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply