TheStreet Upgrades CyrusOne (CONE) to B-

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CyrusOne (NASDAQ:CONE) was upgraded by stock analysts at TheStreet from a “c” rating to a “b-” rating in a report released on Wednesday, TheStreetRatingsTable reports.

Several other research analysts also recently weighed in on CONE. Bank of America downgraded CyrusOne from a “buy” rating to a “neutral” rating and set a $52.88 price target for the company. in a research note on Wednesday, January 2nd. BidaskClub downgraded CyrusOne from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Zacks Investment Research downgraded CyrusOne from a “hold” rating to a “strong sell” rating in a research note on Monday, February 11th. BMO Capital Markets restated a “buy” rating and issued a $68.00 price target on shares of CyrusOne in a research note on Wednesday, February 20th. Finally, Wells Fargo & Co restated a “buy” rating on shares of CyrusOne in a research note on Thursday, February 21st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. CyrusOne currently has an average rating of “Buy” and a consensus target price of $62.55.

CONE stock opened at $58.03 on Wednesday. CyrusOne has a 1-year low of $48.94 and a 1-year high of $69.01. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.23 and a beta of 0.87.

CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. CyrusOne had a return on equity of 0.06% and a net margin of 0.15%. The business had revenue of $225.00 million during the quarter, compared to the consensus estimate of $231.36 million. During the same period in the prior year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, sell-side analysts expect that CyrusOne will post 3.17 EPS for the current fiscal year.

In other news, Director Michael Klayko acquired 1,955 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $51.10 per share, with a total value of $99,900.50. Following the acquisition, the director now directly owns 12,016 shares of the company’s stock, valued at $614,017.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary J. Wojtaszek acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were purchased at an average cost of $49.86 per share, for a total transaction of $199,440.00. Following the completion of the acquisition, the chief executive officer now directly owns 396,534 shares in the company, valued at $19,771,185.24. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc raised its holdings in shares of CyrusOne by 8.8% during the 3rd quarter. Vanguard Group Inc now owns 15,035,960 shares of the real estate investment trust’s stock worth $953,281,000 after acquiring an additional 1,213,820 shares in the last quarter. BlackRock Inc. raised its holdings in shares of CyrusOne by 8.2% during the 4th quarter. BlackRock Inc. now owns 13,400,331 shares of the real estate investment trust’s stock worth $708,610,000 after acquiring an additional 1,013,641 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of CyrusOne by 0.4% during the 4th quarter. Cohen & Steers Inc. now owns 11,220,528 shares of the real estate investment trust’s stock worth $593,342,000 after acquiring an additional 43,986 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CyrusOne by 49.2% during the 4th quarter. Principal Financial Group Inc. now owns 3,319,179 shares of the real estate investment trust’s stock worth $175,518,000 after acquiring an additional 1,094,406 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of CyrusOne by 7.3% during the 4th quarter. Bank of America Corp DE now owns 3,182,029 shares of the real estate investment trust’s stock worth $168,266,000 after acquiring an additional 215,995 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

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 211 Fortune 1000 companies.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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