CyrusOne (NASDAQ:CONE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of CyrusOne (NASDAQ:CONE) from a buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “CyrusOne Inc. is a real estate investment trust engaged in providing enterprise data centre colocation, engineering facilities with the highest power redundancy (2N architecture) and power-density infrastructure services in the United States, Europe, and Asia. CyrusOne Inc. is headquartered in Carrollton, United States. “

A number of other brokerages have also recently commented on CONE. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. UBS Group set a €110.00 ($127.91) price objective on shares of Wacker Chemie and gave the stock a buy rating in a research note on Thursday, June 13th. Deutsche Bank lifted their price objective on shares of Walmart from $118.00 to $120.00 and gave the stock a buy rating in a research note on Friday, May 17th. TheStreet cut shares of ZTO Express (Cayman) from a b+ rating to a c rating in a research note on Wednesday, May 1st. Finally, BMO Capital Markets set a $66.00 price objective on shares of CyrusOne and gave the stock a buy rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $63.80.

NASDAQ:CONE opened at $59.17 on Tuesday. The stock’s 50-day moving average is $59.67. CyrusOne has a 52-week low of $48.94 and a 52-week high of $69.01. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market cap of $6.76 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. The firm had revenue of $225.00 million for the quarter, compared to analyst estimates of $231.36 million. CyrusOne had a net margin of 5.54% and a return on equity of 2.15%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, research analysts forecast that CyrusOne will post 3.36 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, June 27th. CyrusOne’s payout ratio is 55.59%.

A number of institutional investors have recently made changes to their positions in the business. Sageworth Trust Co bought a new stake in shares of CyrusOne during the 1st quarter valued at about $26,000. Lenox Wealth Management Inc. purchased a new position in shares of CyrusOne during the 1st quarter valued at about $26,000. Tortoise Index Solutions LLC purchased a new position in shares of CyrusOne during the 1st quarter valued at about $40,000. Nvwm LLC lifted its position in shares of CyrusOne by 69.6% during the 1st 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 in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of CyrusOne during the 1st quarter valued at about $49,000. 98.04% of the stock is owned by institutional investors and hedge funds.

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.

Featured Story: Institutional Investors

Get a free copy of the Zacks research report on CyrusOne (CONE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

Receive News & Ratings for CyrusOne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne and related companies with MarketBeat.com's FREE daily email newsletter.