Brokerages forecast that Zayo Group Holdings, Inc. (NYSE:ZAYO) will announce $642.84 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Zayo Group Holdings’ earnings, with estimates ranging from $638.62 million to $647.80 million. Zayo Group Holdings posted sales of $504.90 million in the same quarter last year, which would indicate a positive year over year growth rate of 27.3%. The business is scheduled to announce its next quarterly earnings results on Tuesday, November 14th.
On average, analysts expect that Zayo Group Holdings will report full-year sales of $642.84 million for the current fiscal year, with estimates ranging from $2.58 billion to $2.65 billion. For the next financial year, analysts forecast that the firm will post sales of $2.72 billion per share, with estimates ranging from $2.63 billion to $2.78 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Zayo Group Holdings.
Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings data on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The company had revenue of $638.00 million during the quarter, compared to the consensus estimate of $642.67 million. Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.13) EPS.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered Zayo Group Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Zayo Group Holdings in a research report on Tuesday, August 22nd. Cowen and Company reaffirmed a “buy” rating on shares of Zayo Group Holdings in a research report on Friday, August 11th. Deutsche Bank AG assumed coverage on Zayo Group Holdings in a research report on Monday, August 28th. They set a “hold” rating for the company. Finally, CIBC raised their target price on Zayo Group Holdings from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $38.36.
Zayo Group Holdings (NYSE ZAYO) traded up 0.101% during midday trading on Tuesday, reaching $34.625. The company had a trading volume of 803,994 shares. The company has a market capitalization of $8.53 billion, a PE ratio of 98.929 and a beta of 0.55. The stock has a 50-day moving average price of $33.49 and a 200 day moving average price of $32.66. Zayo Group Holdings has a 12-month low of $28.15 and a 12-month high of $35.65.
In related news, CFO Kenneth Desgarennes sold 1,796 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $30.58, for a total value of $54,921.68. Following the completion of the sale, the chief financial officer now directly owns 1,095,852 shares of the company’s stock, valued at approximately $33,511,154.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Jr. Waters sold 9,220 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $30.18, for a total value of $278,259.60. Following the completion of the sale, the insider now directly owns 41,586 shares of the company’s stock, valued at $1,255,065.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 882,516 shares of company stock valued at $28,761,747. Corporate insiders own 5.80% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC bought a new stake in Zayo Group Holdings in the 2nd quarter valued at about $142,000. Daiwa Securities Group Inc. increased its position in Zayo Group Holdings by 475.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the technology company’s stock valued at $151,000 after buying an additional 3,800 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in Zayo Group Holdings in the 1st quarter valued at about $151,000. Nordea Investment Management AB increased its position in Zayo Group Holdings by 6.8% in the 1st quarter. Nordea Investment Management AB now owns 5,240 shares of the technology company’s stock valued at $172,000 after buying an additional 335 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its position in Zayo Group Holdings by 113.6% in the 1st quarter. Meadow Creek Investment Management LLC now owns 5,536 shares of the technology company’s stock valued at $182,000 after buying an additional 2,944 shares in the last quarter. 78.93% of the stock is owned by institutional investors and hedge funds.
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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