3 days have passed by since the last earnings report for CyrusOne Inc. (NASDAQ:CONE) and the new quarterly results look set to arrive in 109 days. The shares of CONE at the moment are trading at a volume of 1.53 million, which compares with its normal daily standard volume of 1.07 million shares. This has led to the shares of the company declining by -0.24%, currently exchanging hands at $71.11 a share. CONE stock has been up by $8.62 (-10.81%) ever since it reached its 52-week high of $79.73 back in September 19, 2019. It has progressed below its 50-day moving average of $76.01 and is down -4.27% over the past week. The stock has retreated 0% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the CONE share price due for a breakout?
Analyzing The Earnings History Of CyrusOne Inc. (NASDAQ:CONE)
In the past few years, the CONE stock has been known to miss the Wall Street’s earnings projection. The company missed 83% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 2 times. Looking at the past trend, the price of CyrusOne Inc. shares had sank following the release of their earnings in 16 of the last 27 quarters.
The higher number of analysts has assigned a buy or better ratings (11) on the CyrusOne Inc. stock, while 7 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $73.26. This price target implies potential upside of 3.02 percent over the next 12 months based on the current share price.
CyrusOne Inc. (CONE) Post Earnings Announcement Drift (PEAD)
Back on October 30, 2019, CyrusOne Inc. (NASDAQ:CONE) released its Q3 results, in which it recorded EPS of $0.14 that exceeded consensus estimates of -$0.03.
On July 31, 2019, the Q2 earnings report was disclosed with loss per share of -$0.08. This was above the estimation of -$0.1 per share. The stock price range of CONE was between $56.81 and $62.33 on the first-day post announcement, after opening the day at $55.53. The session came to close at $62.1 and there was a total volume of 2404192 shares.
May 01, 2019 was the day when its Q1 results were unveiled. The earnings came in at $0.82, beating the projected -$0.11 per share. The very next day, CONE stock opened at $56.1 while staying in a range of $56.1 to $59.11. At the end, it moved to $58.03 a total volume of shares been 2014928.
In the year-ago Q4 earnings on February 20, 2019, the company saw a loss per share of -$1. That was worse than the 0 analysts had expected. CyrusOne Inc. share price started at $51.5 on the first full trading day post-earning and then exchanged hands between $53.95 and $54.55 throughout the session. The closing price of $52.46 came on the back of 2983394 shares in volume.