CyrusOne Inc. (NASDAQ:CONE) Expected to Announce Quarterly Sales of $272.32 Million


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Equities research analysts expect CyrusOne Inc. (NASDAQ:CONE) to post $272.32 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for CyrusOne’s earnings. The highest sales estimate is $275.40 million and the lowest is $268.34 million. CyrusOne reported sales of $245.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 5th.

On average, analysts expect that CyrusOne will report full-year sales of $1.13 billion for the current financial year, with estimates ranging from $1.12 billion to $1.13 billion. For the next year, analysts expect that the firm will report sales of $1.23 billion, with estimates ranging from $1.20 billion to $1.25 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for CyrusOne.

CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Tuesday, February 16th. The real estate investment trust reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.16. CyrusOne had a negative net margin of 2.91% and a positive return on equity of 1.23%.

Several research firms have recently commented on CONE. Evercore ISI began coverage on shares of CyrusOne in a report on Wednesday, March 17th. They issued an “in-line” rating and a $70.00 price target for the company. Zacks Investment Research lowered shares of CyrusOne from a “hold” rating to a “sell” rating in a research note on Monday, February 1st. TD Securities reduced their price objective on shares of CyrusOne from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, February 19th. Wolfe Research initiated coverage on shares of CyrusOne in a research note on Friday, March 19th. They set a “market perform” rating for the company. Finally, Mizuho reduced their price objective on shares of CyrusOne from $74.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $80.80.

NASDAQ:CONE opened at $69.89 on Thursday. CyrusOne has a one year low of $61.64 and a one year high of $86.77. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $8.42 billion, a P/E ratio of -268.80, a P/E/G ratio of 0.81 and a beta of 0.46. The firm has a 50-day simple moving average of $67.13 and a 200-day simple moving average of $71.06.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Friday, March 26th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, March 25th. CyrusOne’s dividend payout ratio is presently 56.20%.

A number of large investors have recently added to or reduced their stakes in CONE. Wealth Alliance boosted its holdings in shares of CyrusOne by 28.1% in the 3rd quarter. Wealth Alliance now owns 6,014 shares of the real estate investment trust’s stock valued at $421,000 after acquiring an additional 1,319 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of CyrusOne in the 3rd quarter valued at $782,000. Nuveen Asset Management LLC boosted its holdings in shares of CyrusOne by 19.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 3,121,464 shares of the real estate investment trust’s stock valued at $218,597,000 after acquiring an additional 504,713 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of CyrusOne by 11.9% in the 3rd quarter. State of Tennessee Treasury Department now owns 94,252 shares of the real estate investment trust’s stock valued at $6,600,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of CyrusOne in the 3rd quarter valued at $995,000. 98.33% of the stock is currently owned by institutional investors.

About CyrusOne

CyrusOne (NASDAQ: CONE) is a premier global REIT specializing in design, construction and operation of more than 50 high-performance data centers worldwide. The Company provides mission-critical facilities that ensure the continued operation of IT infrastructure for approximately 1,000 customers, including approximately 200 Fortune 1000 companies.

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Earnings History and Estimates for CyrusOne (NASDAQ:CONE)

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