Zacks: Analysts Anticipate CyrusOne Inc (CONE) Will Post Earnings of $0.76 Per Share

Brokerages predict that CyrusOne Inc (NASDAQ:CONE) will post earnings of $0.76 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for CyrusOne’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.58. CyrusOne posted earnings of $0.72 per share in the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 2nd.

On average, analysts expect that CyrusOne will report full year earnings of $3.24 per share for the current fiscal year, with EPS estimates ranging from $3.19 to $3.29. For the next financial year, analysts expect that the firm will post earnings of $3.79 per share, with EPS estimates ranging from $3.56 to $4.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for CyrusOne.

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CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.78). The company had revenue of $180.50 million for the quarter, compared to the consensus estimate of $182.48 million. CyrusOne had a negative return on equity of 2.79% and a negative net margin of 12.43%.

A number of research firms recently weighed in on CONE. ValuEngine lowered shares of CyrusOne from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub upgraded shares of CyrusOne from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Zacks Investment Research lowered shares of CyrusOne from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Credit Suisse Group set a $73.00 target price on shares of CyrusOne and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays restated a “buy” rating and issued a $69.00 target price on shares of CyrusOne in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $66.62.

In other CyrusOne news, insider Kevin L. Timmons sold 11,465 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $49.39, for a total value of $566,256.35. Following the completion of the sale, the insider now owns 177,843 shares in the company, valued at approximately $8,783,665.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.64% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Atlantic Trust Group LLC purchased a new stake in shares of CyrusOne during the 3rd quarter worth approximately $93,942,000. Santa Barbara Asset Management LLC purchased a new stake in shares of CyrusOne during the 3rd quarter worth approximately $65,169,000. Cbre Clarion Securities LLC increased its stake in shares of CyrusOne by 21.7% during the 4th quarter. Cbre Clarion Securities LLC now owns 3,248,065 shares of the real estate investment trust’s stock worth $193,357,000 after purchasing an additional 579,122 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of CyrusOne by 29.9% during the 3rd quarter. Janus Henderson Group PLC now owns 1,091,406 shares of the real estate investment trust’s stock worth $64,317,000 after purchasing an additional 251,472 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of CyrusOne by 108.3% during the 3rd quarter. Wells Fargo & Company MN now owns 475,305 shares of the real estate investment trust’s stock worth $28,010,000 after purchasing an additional 247,103 shares during the last quarter. Hedge funds and other institutional investors own 99.50% of the company’s stock.

CONE stock traded down $1.11 on Friday, hitting $49.98. 1,546,829 shares of the company were exchanged, compared to its average volume of 1,416,051. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.30. CyrusOne has a 12 month low of $43.49 and a 12 month high of $65.73. The firm has a market cap of $4,911.06, a price-to-earnings ratio of -52.61, a PEG ratio of 0.92 and a beta of 0.83.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a $0.46 dividend. This is a positive change from CyrusOne’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, March 28th. This represents a $1.84 annualized dividend and a yield of 3.68%. CyrusOne’s dividend payout ratio (DPR) is -176.84%.

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About CyrusOne

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.

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Earnings History and Estimates for CyrusOne (NASDAQ:CONE)

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