A number of other brokerages have also issued reports on ZAYO. Pacific Crest reissued an equal weight rating on shares of Zayo Group Holdings in a research report on Friday, June 23rd. BidaskClub upgraded shares of Zayo Group Holdings from a sell rating to a hold rating in a research note on Friday, August 11th. Oppenheimer Holdings, Inc. restated a buy rating and issued a $42.00 price target on shares of Zayo Group Holdings in a research note on Wednesday, September 13th. Moffett Nathanson restated a neutral rating and issued a $39.00 price target (up previously from $34.00) on shares of Zayo Group Holdings in a research note on Thursday, September 28th. Finally, Barclays PLC boosted their price target on shares of Zayo Group Holdings from $36.00 to $40.00 and gave the stock an overweight rating in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $38.46.
Shares of Zayo Group Holdings (ZAYO) traded down $0.41 during midday trading on Tuesday, reaching $33.99. The company’s stock had a trading volume of 987,668 shares, compared to its average volume of 1,685,047. The company has a market cap of $8,479.18, a PE ratio of 86.00, a price-to-earnings-growth ratio of 11.60 and a beta of 0.56. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 3.99.
Zayo Group Holdings (NYSE:ZAYO) last announced its earnings results on Monday, August 21st. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $642.67 million. Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) EPS. equities research analysts predict that Zayo Group Holdings will post 0.59 EPS for the current fiscal year.
In other Zayo Group Holdings news, CFO Kenneth Desgarennes sold 38,885 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $34.08, for a total transaction of $1,325,200.80. Following the transaction, the chief financial officer now directly owns 1,018,044 shares in the company, valued at $34,694,939.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Caruso sold 295,078 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $33.89, for a total transaction of $10,000,193.42. Following the completion of the sale, the chief executive officer now owns 4,284,854 shares in the company, valued at $145,213,702.06. The disclosure for this sale can be found here. Insiders have sold 5,271,311 shares of company stock worth $180,967,923 over the last 90 days. 5.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of Zayo Group Holdings by 0.6% in the second quarter. Dodge & Cox now owns 16,565,828 shares of the technology company’s stock valued at $511,884,000 after purchasing an additional 96,250 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Zayo Group Holdings by 8.9% in the second quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock valued at $425,998,000 after purchasing an additional 1,127,326 shares during the last quarter. BlackRock Inc. grew its position in shares of Zayo Group Holdings by 8.7% in the second quarter. BlackRock Inc. now owns 10,207,343 shares of the technology company’s stock valued at $315,410,000 after purchasing an additional 813,652 shares during the last quarter. Carmignac Gestion acquired a new stake in shares of Zayo Group Holdings in the second quarter valued at approximately $150,427,000. Finally, State Street Corp grew its position in shares of Zayo Group Holdings by 9.6% in the second quarter. State Street Corp now owns 3,117,303 shares of the technology company’s stock valued at $96,324,000 after purchasing an additional 272,503 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.
Zayo Group Holdings Company Profile
Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.
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