Zayo Group Holdings’ (ZAYO) “Hold” Rating Reiterated at KeyCorp
Zayo Group Holdings, Inc. (NYSE:ZAYO)‘s stock had its “hold” rating reissued by research analysts at KeyCorp in a research note issued on Wednesday.
Other research analysts have also recently issued research reports about the company. Cowen and Company reaffirmed a “buy” rating on shares of Zayo Group Holdings in a research report on Friday, August 11th. BidaskClub cut Zayo Group Holdings from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. William Blair reaffirmed an “ourperform” rating on shares of Zayo Group Holdings in a research report on Tuesday, August 22nd. Zacks Investment Research cut Zayo Group Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Moffett Nathanson reaffirmed a “neutral” rating and set a $39.00 price target (up previously from $34.00) on shares of Zayo Group Holdings in a research report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Zayo Group Holdings has a consensus rating of “Hold” and a consensus target price of $38.36.
Zayo Group Holdings (NYSE ZAYO) traded up 1.804% on Wednesday, reaching $35.275. The company’s stock had a trading volume of 1,528,836 shares. Zayo Group Holdings has a 12 month low of $29.30 and a 12 month high of $35.65. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 100.786 and a beta of 0.55. The firm has a 50 day moving average of $34.51 and a 200 day moving average of $33.04.
Zayo Group Holdings (NYSE:ZAYO) last issued its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The firm had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $642.67 million. During the same period in the prior year, the company earned ($0.13) EPS. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. Analysts anticipate that Zayo Group Holdings will post $0.61 earnings per share for the current year.
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In other Zayo Group Holdings news, Director Richard W. Connor sold 1,200 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $34.47, for a total value of $41,364.00. Following the transaction, the director now directly owns 145,944 shares in the company, valued at approximately $5,030,689.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.35, for a total value of $161,445,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,617,498 shares of company stock worth $192,225,997. 5.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dodge & Cox increased its stake in Zayo Group Holdings by 0.6% in the 2nd quarter. Dodge & Cox now owns 16,565,828 shares of the technology company’s stock worth $511,884,000 after acquiring an additional 96,250 shares during the last quarter. Vanguard Group Inc. increased its stake in Zayo Group Holdings by 8.9% in the 2nd quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock worth $425,998,000 after acquiring an additional 1,127,326 shares during the last quarter. BlackRock Inc. increased its stake in Zayo Group Holdings by 8.7% in the 2nd quarter. BlackRock Inc. now owns 10,207,343 shares of the technology company’s stock worth $315,410,000 after acquiring an additional 813,652 shares during the last quarter. Carmignac Gestion bought a new position in Zayo Group Holdings in the 2nd quarter worth about $150,427,000. Finally, State Street Corp increased its stake in Zayo Group Holdings by 9.6% in the 2nd quarter. State Street Corp now owns 3,117,303 shares of the technology company’s stock worth $96,324,000 after acquiring an additional 272,503 shares during the last quarter. Institutional investors and hedge funds own 78.91% 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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