CyrusOne (CONE) Lowered to Strong Sell at BidaskClub

CyrusOne (NASDAQ:CONE) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Several other equities research analysts have also issued reports on the stock. Barclays reissued a “buy” rating and set a $69.00 target price on shares of CyrusOne in a research note on Friday. Credit Suisse Group set a $73.00 target price on shares of CyrusOne and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered shares of CyrusOne from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. ValuEngine lowered shares of CyrusOne from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Morgan Stanley increased their target price on shares of CyrusOne from $63.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $65.08.

Shares of CyrusOne (NASDAQ:CONE) opened at $55.42 on Friday. 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 company has a market cap of $5,060.00, a price-to-earnings ratio of -56.55, a price-to-earnings-growth ratio of 0.89 and a beta of 0.79.

CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) EPS for the quarter, missing the 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 business had revenue of $175.30 million during the quarter, compared to analysts’ expectations of $177.62 million. During the same period in the previous year, the company posted $0.67 earnings per share. CyrusOne’s revenue for the quarter was up 21.9% compared to the same quarter last year. equities research analysts anticipate that CyrusOne will post 3.08 EPS for the current year.

In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the company’s stock in a transaction dated 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 owns 214,063 shares in the company, valued at approximately $12,886,592.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.64% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zevenbergen Capital Investments LLC raised its position in shares of CyrusOne by 1.6% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 11,405 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 175 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of CyrusOne by 2.1% during the 2nd quarter. Flinton Capital Management LLC now owns 24,378 shares of the real estate investment trust’s stock worth $1,359,000 after purchasing an additional 510 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in CyrusOne by 32.9% in the 2nd 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 during the last quarter. Wealthsource Partners LLC raised its holdings in CyrusOne by 7.0% in the 2nd quarter. Wealthsource Partners LLC now owns 11,823 shares of the real estate investment trust’s stock valued at $659,000 after acquiring an additional 775 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in CyrusOne by 0.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 123,574 shares of the real estate investment trust’s stock valued at $7,282,000 after acquiring an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.

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CyrusOne Company Profile

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.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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