CyrusOne (CONE) Announces Earnings Results

CyrusOne (NASDAQ:CONE) released its earnings results on Tuesday. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($1.23), MarketWatch Earnings reports. CyrusOne had a return on equity of 5.65% and a net margin of 12.96%. The business had revenue of $206.60 million during the quarter, compared to analysts’ expectations of $209.33 million. During the same quarter in the previous year, the business earned $0.79 EPS. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. CyrusOne updated its FY18 guidance to $3.25-3.30 EPS.

Shares of CyrusOne stock traded down $1.15 on Wednesday, reaching $52.72. 83,772 shares of the stock were exchanged, compared to its average volume of 979,961. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.20. CyrusOne has a twelve month low of $43.49 and a twelve month high of $69.01. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.03 and a beta of 0.84.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Thursday, September 27th. CyrusOne’s dividend payout ratio (DPR) is 58.97%.

In related news, insider Kevin L. Timmons sold 7,374 shares of CyrusOne stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $67.16, for a total transaction of $495,237.84. Following the completion of the transaction, the insider now directly owns 179,490 shares in the company, valued at $12,054,548.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary J. Wojtaszek sold 10,000 shares of CyrusOne stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $66.50, for a total value of $665,000.00. Following the transaction, 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. Insiders have sold 24,169 shares of company stock valued at $1,602,197 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Several equities analysts have recently commented on CONE shares. Zacks Investment Research lowered CyrusOne from a “hold” rating to a “strong sell” rating in a research note on Monday, October 8th. Jefferies Financial Group raised their price target on CyrusOne from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 28th. Berenberg Bank started coverage on CyrusOne in a research note on Thursday, September 20th. They set a “hold” rating and a $64.00 price target on the stock. Stifel Nicolaus set a $72.00 price target on CyrusOne and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, BidaskClub lowered CyrusOne from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. CyrusOne currently has a consensus rating of “Buy” and a consensus target price of $69.53.

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 200 Fortune 1000 companies.

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Earnings History for CyrusOne (NASDAQ:CONE)

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