CyrusOne (NASDAQ:CONE) has been given a $73.00 price target by investment analysts at Credit Suisse Group in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Credit Suisse Group’s price target indicates a potential upside of 32.49% from the stock’s current price.
CONE has been the topic of a number of other research reports. Deutsche Bank reiterated a “buy” rating and set a $71.00 target price on shares of CyrusOne in a report on Friday, November 10th. Zacks Investment Research downgraded CyrusOne from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Morgan Stanley upped their target price on CyrusOne from $63.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. BidaskClub downgraded CyrusOne from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Finally, ValuEngine downgraded CyrusOne from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Three investment 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. CyrusOne presently has a consensus rating of “Buy” and a consensus target price of $65.08.
CyrusOne (CONE) traded down $0.72 during mid-day trading on Wednesday, hitting $55.10. The company’s stock had a trading volume of 985,500 shares, compared to its average volume of 1,295,367. CyrusOne has a 1 year low of $46.41 and a 1 year high of $65.73. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $5,060.00, a P/E ratio of -56.22, a price-to-earnings-growth ratio of 0.89 and a beta of 0.79.
CyrusOne (NASDAQ:CONE) last posted its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The firm had revenue of $175.30 million for the quarter, compared to analysts’ expectations of $177.62 million. During the same quarter last year, the company posted $0.67 EPS. The firm’s revenue was up 21.9% on a year-over-year basis. research analysts forecast that CyrusOne will post 3.08 earnings per share for the current year.
In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total value of $812,700.00. Following the sale, the insider now owns 214,063 shares in the company, valued at approximately $12,886,592.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.64% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC lifted its position in CyrusOne by 44.8% in the 2nd quarter. Perigon Wealth Management LLC now owns 4,525 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 1,400 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of CyrusOne by 81.2% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 5,012 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 2,246 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of CyrusOne by 14.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 325,495 shares of the real estate investment trust’s stock valued at $18,147,000 after buying an additional 40,044 shares during the period. Stifel Financial Corp lifted its holdings in shares of CyrusOne by 7.5% during the 3rd quarter. Stifel Financial Corp now owns 52,245 shares of the real estate investment trust’s stock valued at $3,077,000 after buying an additional 3,636 shares during the period. Finally, Citigroup Inc. lifted its holdings in shares of CyrusOne by 486.5% during the 2nd quarter. Citigroup Inc. now owns 435,484 shares of the real estate investment trust’s stock valued at $24,278,000 after buying an additional 361,238 shares during the period. 96.67% of the stock is currently owned by institutional investors and hedge funds.
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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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