Zacks: Brokerages Anticipate CyrusOne Inc (CONE) to Post $0.83 Earnings Per Share

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Wall Street brokerages predict that CyrusOne Inc (NASDAQ:CONE) will report earnings of $0.83 per share for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for CyrusOne’s earnings, with estimates ranging from $0.79 to $0.90. CyrusOne posted earnings per share of $0.84 in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.2%. The company is expected to report its next quarterly earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that CyrusOne will report full year earnings of $3.27 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.35. For the next financial year, analysts forecast that the firm will report earnings of $3.60 per share, with EPS estimates ranging from $3.40 to $3.91. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CyrusOne.

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

CONE has been the subject of a number of recent research reports. BidaskClub cut shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 5th. Jefferies Financial Group increased their target price on shares of CyrusOne from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 28th. BMO Capital Markets set a $74.00 target price on shares of CyrusOne and gave the company a “buy” rating in a research report on Monday, August 27th. Stifel Nicolaus initiated coverage on shares of CyrusOne in a research report on Tuesday, July 17th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Bank of America increased their target price on shares of CyrusOne from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, July 13th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $67.81.

In related news, insider Kevin L. Timmons sold 7,374 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $67.16, for a total transaction of $495,237.84. Following the completion of the sale, the insider now directly owns 179,490 shares in the company, valued at $12,054,548.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gary J. Wojtaszek sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $66.50, for a total transaction of $665,000.00. Following the sale, the insider now owns 519,936 shares of the company’s stock, valued at $34,575,744. The disclosure for this sale can be found here. 1.64% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in CyrusOne by 33.3% during the third quarter. BlackRock Inc. now owns 12,386,690 shares of the real estate investment trust’s stock worth $785,315,000 after purchasing an additional 3,097,539 shares during the last quarter. Cbre Clarion Securities LLC increased its position in CyrusOne by 16.9% during the second quarter. Cbre Clarion Securities LLC now owns 3,889,685 shares of the real estate investment trust’s stock worth $227,002,000 after purchasing an additional 560,940 shares during the last quarter. Bank of America Corp DE increased its position in CyrusOne by 5.2% during the second quarter. Bank of America Corp DE now owns 2,888,856 shares of the real estate investment trust’s stock worth $168,594,000 after purchasing an additional 142,445 shares during the last quarter. Daiwa Securities Group Inc. increased its position in CyrusOne by 664.8% during the third quarter. Daiwa Securities Group Inc. now owns 2,469,880 shares of the real estate investment trust’s stock worth $156,590,000 after purchasing an additional 2,146,941 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in CyrusOne by 15.4% during the third quarter. Janus Henderson Group PLC now owns 2,059,062 shares of the real estate investment trust’s stock worth $130,575,000 after purchasing an additional 274,885 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Shares of NASDAQ CONE traded down $0.45 during mid-day trading on Friday, reaching $54.82. The company’s stock had a trading volume of 506,404 shares, compared to its average volume of 1,096,305. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.22. CyrusOne has a 1-year low of $43.49 and a 1-year high of $69.01.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, January 2nd will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Monday, December 31st. CyrusOne’s payout ratio is currently 58.97%.

CyrusOne Company Profile

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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