CyrusOne (NASDAQ:CONE) Posts Earnings Results, Beats Estimates By $0.09 EPS

CyrusOne (NASDAQ:CONE) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09, Briefing.com reports. The firm had revenue of $251.50 million during the quarter, compared to analyst estimates of $238.01 million. CyrusOne had a net margin of 5.54% and a return on equity of 2.15%. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. CyrusOne updated its FY 2019 guidance to $3.50-3.60 EPS.

NASDAQ CONE traded up $0.92 during trading on Friday, hitting $63.02. 1,640,162 shares of the company’s stock traded hands, compared to its average volume of 1,021,764. The business’s fifty day moving average price is $58.83. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.59 and a current ratio of 1.59. CyrusOne has a 12-month low of $48.94 and a 12-month high of $69.01. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 1.10 and a beta of 0.66.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.17%. This is a positive change from CyrusOne’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, September 26th. CyrusOne’s dividend payout ratio is presently 55.59%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CONE. Sageworth Trust Co purchased a new stake in CyrusOne during the first quarter valued at about $26,000. Lenox Wealth Management Inc. purchased a new stake in CyrusOne during the first quarter valued at about $26,000. Cullen Frost Bankers Inc. boosted its position in CyrusOne by 190.8% during the second quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 353 shares during the period. Tortoise Index Solutions LLC purchased a new stake in CyrusOne during the first quarter valued at about $40,000. Finally, Nvwm LLC boosted its position in CyrusOne by 69.6% during the first quarter. Nvwm LLC now owns 916 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 376 shares during the period. Institutional investors and hedge funds own 98.04% of the company’s stock.

A number of research firms have recently commented on CONE. Stifel Nicolaus boosted their price target on shares of CyrusOne from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Friday. Berenberg Bank upgraded shares of CyrusOne from a “hold” rating to a “buy” rating and upped their target price for the stock from $55.00 to $69.00 in a research report on Tuesday, May 7th. Zacks Investment Research lowered shares of CyrusOne from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. BidaskClub upgraded shares of CyrusOne from a “sell” rating to a “hold” rating in a research report on Friday. Finally, UBS Group lowered shares of CyrusOne from a “buy” rating to a “neutral” rating and cut their target price for the stock from $64.00 to $62.00 in a research report on Thursday, June 13th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $65.03.

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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Earnings History for CyrusOne (NASDAQ:CONE)

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