CyrusOne Inc. (NASDAQ:CONE) Expected to Announce Earnings of $0.98 Per Share


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Brokerages expect CyrusOne Inc. (NASDAQ:CONE) to announce earnings of $0.98 per share for the current quarter, according to Zacks. Six analysts have provided estimates for CyrusOne’s earnings, with the lowest EPS estimate coming in at $0.96 and the highest estimate coming in at $1.01. CyrusOne reported earnings of $0.97 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that CyrusOne will report full year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.68 to $3.98. For the next fiscal year, analysts expect that the business will post earnings of $4.24 per share, with EPS estimates ranging from $3.98 to $4.40. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow CyrusOne.

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

A number of research firms have commented on CONE. Deutsche Bank Aktiengesellschaft reduced their target price on CyrusOne from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, February 24th. Evercore ISI began coverage on CyrusOne in a report on Wednesday, March 17th. They set an “in-line” rating and a $70.00 target price on the stock. Mizuho reduced their target price on CyrusOne from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 12th. They noted that the move was a valuation call. Raymond James reduced their target price on CyrusOne from $83.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 25th. Finally, Wolfe Research began coverage on CyrusOne in a report on Friday, March 19th. They set a “market perform” rating on the stock. 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. The company has an average rating of “Hold” and a consensus price target of $80.80.

NASDAQ:CONE traded down $0.53 during trading hours on Tuesday, reaching $69.56. 402,824 shares of the stock were exchanged, compared to its average volume of 754,520. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $67.10 and a 200-day simple moving average of $71.04. CyrusOne has a 52 week low of $61.64 and a 52 week high of $86.77. The stock has a market capitalization of $8.38 billion, a P/E ratio of -267.51, a P/E/G ratio of 0.81 and a beta of 0.46.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Friday, March 26th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, March 25th. CyrusOne’s payout ratio is currently 56.20%.

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its stake in CyrusOne by 21.7% during the 1st quarter. State of Alaska Department of Revenue now owns 65,607 shares of the real estate investment trust’s stock valued at $4,442,000 after acquiring an additional 11,719 shares in the last quarter. NuWave Investment Management LLC bought a new stake in CyrusOne during the 1st quarter valued at $32,000. First American Bank raised its stake in CyrusOne by 6.2% during the 1st quarter. First American Bank now owns 15,361 shares of the real estate investment trust’s stock valued at $1,040,000 after acquiring an additional 902 shares in the last quarter. Liberty One Investment Management LLC raised its stake in CyrusOne by 11.1% during the 1st quarter. Liberty One Investment Management LLC now owns 11,587 shares of the real estate investment trust’s stock valued at $785,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Cox Capital Mgt LLC raised its stake in CyrusOne by 67.1% during the 1st quarter. Cox Capital Mgt LLC now owns 45,076 shares of the real estate investment trust’s stock valued at $3,053,000 after acquiring an additional 18,102 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other 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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