The Vanguard Group, Inc. recently announced the acquisition of new stake in CyrusOne Inc. (NASDAQ:CONE). The institutional investor has increased its shareholding in the Real Estate company by 0.63% to 16.69 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 14.49% valued currently at $1.21 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.11 million to 4.23 million shares. And Invesco Advisers, Inc. has lifted its position by 35.35% or 0.57 million shares – to 2.19 million shares.
With over 0.43 million CyrusOne Inc. (CONE) shares trading Tuesday and a closing price of $76.04 on the day, the dollar volume was approximately $32.57 million. The shares have shown a negative weekly performance of -1.08% and its price on 07/21/20 gained nearly 0.04%. Currently, there are 114.90M common shares owned by the public and among those 114.36M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for CONE have a consensus price objective of $79.61. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $69.00 should the stock experience a downside. Incidentally, analysts’ outlook for the CyrusOne Inc. stock is 2.20 for the next 12 months. The average price target is 3.44% above its last price level and an upside to the estimated low will see the stock lose -10.2% over that period. But an upside of 15.51% will see the stock hit the forecast high price target while mean target price for the stock is $80.00.
Insiders at the company have transacted a total of 70 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 300,191 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 336,021 shares.
The top 3 mutual fund holders in CyrusOne Inc. are Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF. Vanguard Real Estate Index Fund owns 5.16 million shares of the company’s stock, all valued at over $375.13 million. The company bought an additional 38513.0 shares recently to bring their total holdings to about 4.48% of the shares outstanding. Vanguard Total Stock Market Index bought 17248.0 shares to see its total holdings expand to 3.28 million shares valued at over $238.44 million and representing 2.85% of the shares outstanding. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.68% of the shares outstanding.
Shares of CyrusOne Inc. (NASDAQ: CONE) opened at $76.69, up $0.68 from a prior closing price of $76.01. However, the script later closed the day at $76.04, up 0.04%. The company’s stock has a 5-day price change of -1.08% and 11.50% over the past three months. CONE shares are trading 16.22% year to date (YTD), with the 12-month market performance up to 29.52% higher. It has a 12-month low price of $43.72 and touched a high of $79.73 over the same period. Currently, 0.43 million shares have been traded, compared to an average intraday trading volume of 1.22 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.74%, 2.66%, and 12.69% respectively.
Institutional ownership of CyrusOne Inc. (NASDAQ: CONE) shares accounts for 99.20% of the company’s 114.90M shares outstanding. Mutual fund holders own 42.34%, while other institutional holders and individual stakeholders account for 56.23% and 3.72% respectively.
It has a market capitalization of $8.72B and a beta (3y monthly) value of 0.42. The earnings-per-share (ttm) stands at -$0.30. The company has a debt-to-equity ratio at 1.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.50% over the week and 3.04% over the month.
Analysts forecast that CyrusOne Inc. (CONE) will achieve an EPS of -$0.01 for the current quarter, -$0.02 for the next quarter and $0.2 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of $0.09. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to decrease by -63.90%, and 54.55% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate CyrusOne Inc. (CONE) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 8 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CONE, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on July 15, 2020, with the firm’s price target at $82. KeyBanc Capital Markets coverage for the CyrusOne Inc. (CONE) stock in a research note released on June 30, 2020 offered a Sector Weight rating with a price target of. Deutsche Bank was of a view on June 05, 2020 that the stock is Buy, while Jefferies gave the stock Buy rating on May 04, 2020, issuing a price target of $81. Citigroup on their part issued Neutral rating on March 17, 2020.