CyrusOne’s (CONE) “Buy” Rating Reiterated at Barclays

CyrusOne (NASDAQ:CONE)‘s stock had its “buy” rating restated by equities research analysts at Barclays in a report released on Friday. They currently have a $69.00 price target on the real estate investment trust’s stock. Barclays’ price objective suggests a potential upside of 25.23% from the stock’s current price.

CONE has been the subject of a number of other reports. William Blair initiated coverage on shares of CyrusOne in a report on Friday, September 22nd. They issued an “outperform” rating for the company. BidaskClub cut shares of CyrusOne from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Cowen restated a “buy” rating and issued a $78.00 price target on shares of CyrusOne in a report on Wednesday, November 1st. Jefferies Group restated a “buy” rating and issued a $69.00 price target on shares of CyrusOne in a report on Monday, October 16th. Finally, Credit Suisse Group set a $73.00 price target on shares of CyrusOne and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $65.08.

Shares of CyrusOne (NASDAQ:CONE) opened at $55.10 on Friday. CyrusOne has a 12-month low of $46.41 and a 12-month high of $65.73. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $5,096.87, a price-to-earnings ratio of -56.80, a PEG ratio of 0.89 and a beta of 0.79.

CyrusOne (NASDAQ:CONE) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The firm had revenue of $175.30 million for the quarter, compared to analyst estimates of $177.62 million. During the same quarter last year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. research analysts anticipate that CyrusOne will post 3.08 EPS for the current year.

In other news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total transaction of $812,700.00. Following the completion of the transaction, the insider now directly owns 214,063 shares in the company, valued at $12,886,592.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.64% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CONE. Schwab Charles Investment Management Inc. grew its holdings in shares of CyrusOne by 14.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 325,495 shares of the real estate investment trust’s stock valued at $18,147,000 after buying an additional 40,044 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of CyrusOne by 6.1% during the second quarter. Prudential Financial Inc. now owns 49,212 shares of the real estate investment trust’s stock valued at $2,744,000 after buying an additional 2,826 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of CyrusOne by 36.9% during the second quarter. Franklin Resources Inc. now owns 196,857 shares of the real estate investment trust’s stock valued at $10,975,000 after buying an additional 53,035 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of CyrusOne by 1.5% during the second quarter. Alliancebernstein L.P. now owns 68,309 shares of the real estate investment trust’s stock valued at $3,808,000 after buying an additional 990 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of CyrusOne by 713.1% during the second quarter. Riverhead Capital Management LLC now owns 5,692 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 4,992 shares during the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.

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CyrusOne Company Profile

CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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