$248.04 Million in Sales Expected for CyrusOne Inc (NASDAQ:CONE) This Quarter

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Equities research analysts expect that CyrusOne Inc (NASDAQ:CONE) will post sales of $248.04 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for CyrusOne’s earnings. The highest sales estimate is $249.70 million and the lowest is $246.30 million. CyrusOne reported sales of $221.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 19th.

According to Zacks, analysts expect that CyrusOne will report full-year sales of $976.91 million for the current year, with estimates ranging from $973.71 million to $985.74 million. For the next year, analysts forecast that the business will report sales of $1.09 billion, with estimates ranging from $1.08 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow CyrusOne.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $247.81 million. During the same quarter last year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis.

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lowered CyrusOne from an “overweight” rating to a “neutral” rating and upped their price target for the company from $71.00 to $77.00 in a research report on Friday, November 1st. SunTrust Banks set a $78.00 price target on CyrusOne and gave the company a “buy” rating in a research report on Friday, November 1st. Zacks Investment Research lowered CyrusOne from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. UBS Group upped their target price on CyrusOne from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Credit Suisse Group set a $68.00 target price on CyrusOne and gave the company a “hold” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.62.

Shares of NASDAQ CONE traded down $0.18 during trading on Friday, reaching $63.30. The company had a trading volume of 643,128 shares, compared to its average volume of 1,074,418. The company’s fifty day moving average price is $67.04 and its 200-day moving average price is $66.49. CyrusOne has a 12 month low of $48.94 and a 12 month high of $79.73. The stock has a market cap of $7.25 billion, a P/E ratio of 19.12, a PEG ratio of 1.19 and a beta of 0.44. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.21.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, January 2nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.16%. CyrusOne’s payout ratio is 60.42%.

In other CyrusOne news, EVP Kevin L. Timmons sold 24,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $70.53, for a total value of $1,692,720.00. Following the transaction, the executive vice president now owns 101,583 shares in the company, valued at $7,164,648.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Skomal sold 1,083 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $68.47, for a total value of $74,153.01. Following the completion of the transaction, the chief accounting officer now owns 5,515 shares in the company, valued at approximately $377,612.05. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. BBVA USA Bancshares Inc. bought a new position in CyrusOne in the third quarter worth approximately $394,000. Prudential Financial Inc. raised its stake in shares of CyrusOne by 7.9% in the second quarter. Prudential Financial Inc. now owns 71,254 shares of the real estate investment trust’s stock worth $4,113,000 after purchasing an additional 5,210 shares during the last quarter. Walleye Trading LLC raised its stake in shares of CyrusOne by 17.6% in the second quarter. Walleye Trading LLC now owns 8,694 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 1,299 shares during the last quarter. BB&T Corp purchased a new stake in shares of CyrusOne in the third quarter worth approximately $275,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of CyrusOne in the second quarter worth approximately $202,000.

CyrusOne Company Profile

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 and Estimates for CyrusOne (NASDAQ:CONE)

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