Zayo Group Holdings Inc (ZAYO) Receives $39.33 Average PT from Brokerages

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Zayo Group Holdings Inc (NYSE:ZAYO) has been given a consensus rating of “Buy” by the nineteen ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $38.40.

A number of brokerages recently issued reports on ZAYO. Moffett Nathanson raised Zayo Group from a “neutral” rating to a “buy” rating in a report on Monday, October 15th. ValuEngine downgraded Zayo Group from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Zacks Investment Research downgraded Zayo Group from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. TheStreet raised Zayo Group from a “c+” rating to a “b-” rating in a report on Friday, August 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Zayo Group in a report on Thursday, August 23rd.

Shares of ZAYO opened at $23.26 on Thursday. The company has a debt-to-equity ratio of 3.90, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $5.56 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 8.39 and a beta of 0.64. Zayo Group has a 52-week low of $22.00 and a 52-week high of $39.66.

Zayo Group (NYSE:ZAYO) last announced its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). The business had revenue of $641.10 million during the quarter, compared to analyst estimates of $647.21 million. Zayo Group had a net margin of 3.87% and a return on equity of 9.58%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, sell-side analysts predict that Zayo Group will post 0.57 EPS for the current fiscal year.

In other Zayo Group news, Director Richard W. Connor sold 1,038 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $33.95, for a total value of $35,240.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sandra Mays sold 1,586 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $34.14, for a total value of $54,146.04. Following the completion of the sale, the insider now owns 35,800 shares of the company’s stock, valued at approximately $1,222,212. The disclosure for this sale can be found here. In the last quarter, insiders sold 609,250 shares of company stock valued at $20,215,335. 4.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board raised its stake in shares of Zayo Group by 23.2% during the third quarter. Canada Pension Plan Investment Board now owns 9,700,928 shares of the technology company’s stock worth $336,816,000 after purchasing an additional 1,829,350 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Zayo Group by 105.3% during the third quarter. CIBC World Markets Inc. now owns 48,471 shares of the technology company’s stock worth $1,683,000 after purchasing an additional 24,857 shares during the last quarter. BlackRock Inc. raised its stake in shares of Zayo Group by 11.8% during the third quarter. BlackRock Inc. now owns 14,857,145 shares of the technology company’s stock worth $515,841,000 after purchasing an additional 1,568,218 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Zayo Group by 6.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 76,277 shares of the technology company’s stock worth $2,648,000 after purchasing an additional 4,311 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Zayo Group by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 941,186 shares of the technology company’s stock worth $32,678,000 after purchasing an additional 46,617 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

About Zayo Group

Zayo Group Holdings, Inc, through its subsidiaries, provides bandwidth infrastructure solutions for the communications industry in the United States, Canada, and Europe. The company operates in six segments: Fiber Solutions, Transport, Enterprise Networks, Zayo Colocation (zColo), Allstream, and Other.

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Analyst Recommendations for Zayo Group (NYSE:ZAYO)

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