CyrusOne (NASDAQ:CONE) had its target price hoisted by analysts at Wells Fargo & Co from $76.00 to $85.00 in a report released on Friday, BenzingaRatingsTable reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Co's target price points to a potential upside of 12.30% from the stock's current price.
Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets reiterated a "hold" rating and set a $70.00 target price on shares of CyrusOne in a research note on Wednesday, April 29th. BidaskClub cut shares of CyrusOne from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Deutsche Bank assumed coverage on CyrusOne in a report on Friday, June 5th. They issued a "buy" rating and a $83.00 price objective on the stock. ValuEngine lowered CyrusOne from a "hold" rating to a "sell" rating in a research note on Friday, July 3rd. Finally, Citigroup boosted their price target on CyrusOne from $52.00 to $74.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus price target of $78.00.
Shares of NASDAQ CONE traded down $1.15 during midday trading on Friday, hitting $75.69. The stock had a trading volume of 4,814 shares, compared to its average volume of 1,190,201. CyrusOne has a 52 week low of $43.72 and a 52 week high of $79.73. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.40. The company has a market cap of $8.78 billion, a P/E ratio of -252.29, a PEG ratio of 0.90 and a beta of 0.41. The business's 50 day moving average is $74.27 and its 200-day moving average is $66.59.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.82). The company had revenue of $245.10 million for the quarter, compared to analysts' expectations of $249.49 million. CyrusOne had a positive return on equity of 1.54% and a negative net margin of 3.32%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. As a group, analysts expect that CyrusOne will post 3.83 EPS for the current fiscal year.
In related news, EVP Kevin L. Timmons sold 5,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $68.33, for a total transaction of $341,650.00. Following the completion of the sale, the executive vice president now directly owns 48,492 shares of the company's stock, valued at $3,313,458.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert M. Jackson sold 24,164 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.39, for a total value of $1,821,723.96. Following the completion of the transaction, the executive vice president now directly owns 35,923 shares in the company, valued at approximately $2,708,234.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,595 shares of company stock valued at $3,960,746. Company insiders own 0.55% of the company's stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC bought a new stake in CyrusOne in the first quarter worth about $25,000. Column Capital Advisors LLC bought a new stake in shares of CyrusOne in the 1st quarter valued at about $25,000. tru Independence LLC boosted its position in CyrusOne by 65.5% in the first quarter. tru Independence LLC now owns 422 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 167 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in CyrusOne during the first quarter valued at $27,000. Finally, Lindbrook Capital LLC purchased a new position in shares of CyrusOne during the first quarter valued at approximately $35,000. Institutional investors own 95.36% of the company's stock.
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.
Featured Article: Profit margin is different from the revenue
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Tech Stocks to Buy Now For a Post Coronavirus Economy
The Covid-19 pandemic has created a new “tech wreck”. But unlike the broad selloff at the end of 2018, this downturn has been more selective. Some stocks that looked like they were a little overbought have seen their share prices lowered.
In some cases, there was a legitimate reason for this. However, in other cases, it was likely a result of profit-taking disguised as something else. That’s the nature of a crisis. It gives investors the cover to do what they wanted to do anyway. But once investors start to sell, it can trigger a herd mentality.
And that’s when savvy investors start to look for opportunities. Because as Warren Buffett famously said, “Be greedy when others are fearful.” Tech stocks will lead the way back when the pandemic is over. Because if there’s one thing this moment in time is teaching us, it’s that we’re not going to be less dependent on technology. Businesses aren’t going to be doing less digital advertising. Consumers aren’t going to do less e-commerce.
But the fundamentals still matter. That’s why one of the common traits of many of these companies is that they have rock-solid balance sheets.
View the "7 Tech Stocks to Buy Now For a Post Coronavirus Economy".