CyrusOne Inc (CONE) Releases FY17 Earnings Guidance
CyrusOne Inc (NASDAQ:CONE) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.05-$3.10 for the period, compared to the Thomson Reuters consensus estimate of $3.00. The company issued revenue guidance of $670-$677 million, compared to the consensus revenue estimate of $676.40 million.
CyrusOne Inc (CONE) opened at 61.39 on Wednesday. CyrusOne Inc has a 52 week low of $38.80 and a 52 week high of $65.73.
CyrusOne (NASDAQ:CONE) last posted its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). The business had revenue of $175.30 million during the quarter, compared to analyst estimates of $177.62 million. CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.27%. CyrusOne’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. Analysts predict that CyrusOne Inc will post ($0.24) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, December 28th. CyrusOne’s dividend payout ratio (DPR) is presently -173.19%.
A number of analysts have issued reports on the stock. William Blair initiated coverage on shares of CyrusOne in a research note on Friday, September 22nd. They issued an outperform rating for the company. Zacks Investment Research upgraded shares of CyrusOne from a hold rating to a buy rating and set a $62.00 price objective for the company in a research note on Tuesday, July 11th. KeyCorp restated a hold rating on shares of CyrusOne in a research note on Tuesday, September 12th. Morgan Stanley restated an overweight rating and issued a $63.00 price objective (up from $58.00) on shares of CyrusOne in a research note on Friday, August 25th. Finally, Deutsche Bank AG restated a buy rating and issued a $64.00 price objective (up from $62.00) on shares of CyrusOne in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $62.14.
In related news, EVP Robert M. Jackson sold 1,890 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $59.00, for a total transaction of $111,510.00. Following the completion of the transaction, the executive vice president now directly owns 24,296 shares in the company, valued at approximately $1,433,464. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.64% of the stock is owned by corporate insiders.
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CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.
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