CyrusOne (NASDAQ:CONE) Stock Rating Lowered by BMO Capital Markets

CyrusOne (NASDAQ:CONE) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $67.00 price target on the real estate investment trust’s stock, down from their prior price target of $73.00. BMO Capital Markets’ target price indicates a potential upside of 4.69% from the company’s previous close.

CONE has been the subject of a number of other research reports. UBS Group boosted their target price on shares of CyrusOne from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price on shares of CyrusOne in a research report on Tuesday, December 3rd. Zacks Investment Research raised shares of CyrusOne from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Monday, January 6th. Cowen cut shares of CyrusOne from an “outperform” rating to a “market perform” rating in a research report on Friday, October 4th. Finally, SunTrust Banks set a $78.00 price objective on shares of CyrusOne and gave the stock a “buy” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $72.77.

Shares of NASDAQ:CONE traded up $0.75 on Tuesday, hitting $64.00. The company had a trading volume of 129,219 shares, compared to its average volume of 909,521. CyrusOne has a 1-year low of $48.94 and a 1-year high of $79.73. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 1.04 and a beta of 0.44. The stock has a 50 day moving average price of $64.01 and a 200 day moving average price of $67.28. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.21.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.75). CyrusOne had a negative net margin of 1.30% and a negative return on equity of 0.08%. The company had revenue of $250.90 million during the quarter, compared to analyst estimates of $247.81 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. CyrusOne’s revenue for the quarter was up 21.4% on a year-over-year basis. Sell-side analysts anticipate that CyrusOne will post 3.57 earnings per share for the current fiscal year.

In other CyrusOne news, CEO Gary J. Wojtaszek sold 100,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $67.00, for a total transaction of $6,700,000.00. Following the completion of the transaction, the chief executive officer now owns 167,351 shares of the company’s stock, valued at $11,212,517. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Skomal sold 1,083 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.47, for a total value of $74,153.01. Following the transaction, the chief accounting officer now directly owns 5,515 shares of the company’s stock, valued at approximately $377,612.05. The disclosure for this sale can be found here. Insiders have sold 143,539 shares of company stock valued at $9,667,068 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC acquired a new position in shares of CyrusOne in the third quarter valued at approximately $29,000. FNY Investment Advisers LLC acquired a new position in shares of CyrusOne in the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. increased its stake in shares of CyrusOne by 4,750.0% in the third quarter. Meeder Asset Management Inc. now owns 582 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 570 shares during the period. Howe & Rusling Inc. increased its stake in shares of CyrusOne by 36.4% in the third quarter. Howe & Rusling Inc. now owns 750 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 200 shares during the period. Finally, Strategic Blueprint LLC acquired a new stake in CyrusOne during the 3rd quarter valued at approximately $86,000.

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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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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