CyrusOne Inc. shares declined nearly -4% Monday, following a downgrade on the firm's stock – the second time in a row in the last few days.
Credit Suisse analyst Sami Badri downgraded CyrusOne to neutral from buy, while lowering his target price on the stock to $52. This came close on the heels of Friday’s downgrade of the stock by Jefferies analysts to hold from buy coupled with a price-target cut to $54.
Last week, the carrier-neutral data center real estate investment trust reported a net loss of -$1 per share in the fourth quarter of 2018, compared to a net income of 3 cents in the year-ago quarter. Net loss was -$105.8 million for the fourth quarter, compared to a positive net income of $2.8 million in the same period in 2017.
The company lowered its full-year 2019 guidance on earnings to a range of $3.10-$3.20 per share, compared to analysts’ estimates of $3.53 a share. It expects revenue in the range of $960 million to $1 billion, while analysts’ predict $991.8 million.