CyrusOne (NASDAQ:CONE) Raised to Buy at Zacks Investment Research

CyrusOne (NASDAQ:CONE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage presently has a $83.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.71% from the stock’s previous close.

According to Zacks, “CyrusOne Inc. is a real estate investment trust engaged in providing enterprise data centre colocation, engineering facilities with the highest power redundancy (2N architecture) and power-density infrastructure services in the United States, Europe, and Asia. CyrusOne Inc. is headquartered in Carrollton, United States. “

Several other brokerages also recently issued reports on CONE. Guggenheim set a $81.00 price objective on shares of CyrusOne and gave the company a “buy” rating in a research note on Thursday, September 12th. BidaskClub downgraded shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Stifel Nicolaus reissued a “buy” rating on shares of CyrusOne in a research note on Friday, August 16th. ValuEngine raised shares of CyrusOne from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets reissued a “buy” rating and set a $66.00 price objective on shares of CyrusOne in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $68.24.



Shares of CONE stock traded up $0.11 during trading hours on Wednesday, hitting $74.30. The company’s stock had a trading volume of 327,403 shares, compared to its average volume of 1,010,557. The business has a fifty day moving average of $69.05 and a 200-day moving average of $60.20. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.38 and a beta of 0.54. CyrusOne has a twelve month low of $48.94 and a twelve month high of $75.48. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.16.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. The business had revenue of $251.50 million for the quarter, compared to the consensus estimate of $238.01 million. CyrusOne had a negative net margin of 7.44% and a negative return on equity of 2.45%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 earnings per share. On average, equities analysts expect that CyrusOne will post 3.54 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in CyrusOne by 3.1% during the second quarter. Vanguard Group Inc. now owns 16,216,705 shares of the real estate investment trust’s stock worth $936,029,000 after purchasing an additional 482,530 shares during the period. Cohen & Steers Inc. raised its stake in CyrusOne by 20.6% during the second quarter. Cohen & Steers Inc. now owns 14,063,823 shares of the real estate investment trust’s stock worth $811,764,000 after purchasing an additional 2,398,840 shares during the period. BlackRock Inc. raised its stake in CyrusOne by 2.2% during the first quarter. BlackRock Inc. now owns 13,697,485 shares of the real estate investment trust’s stock worth $718,297,000 after purchasing an additional 297,154 shares during the period. Nuveen Asset Management LLC raised its stake in CyrusOne by 617.5% during the second quarter. Nuveen Asset Management LLC now owns 5,051,779 shares of the real estate investment trust’s stock worth $291,589,000 after purchasing an additional 4,347,725 shares during the period. Finally, Principal Financial Group Inc. raised its stake in CyrusOne by 4.5% during the first quarter. Principal Financial Group Inc. now owns 3,467,950 shares of the real estate investment trust’s stock worth $181,860,000 after purchasing an additional 148,771 shares during the period.

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 212 Fortune 1000 companies.

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