Zayo Group Holdings, Inc. (ZAYO) Coverage Initiated at UBS AG
Investment analysts at UBS AG began coverage on shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) in a report released on Tuesday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.
ZAYO has been the topic of several other research reports. Zacks Investment Research cut Zayo Group Holdings from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating on shares of Zayo Group Holdings in a report on Tuesday, August 22nd. Cowen and Company restated a “buy” rating on shares of Zayo Group Holdings in a report on Friday, August 11th. Deutsche Bank AG assumed coverage on Zayo Group Holdings in a report on Monday, August 28th. They set a “hold” rating on the stock. Finally, BidaskClub cut Zayo Group Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Zayo Group Holdings presently has an average rating of “Hold” and a consensus price target of $38.36.
Shares of Zayo Group Holdings (ZAYO) traded up 1.56% during trading on Tuesday, hitting $35.05. The stock had a trading volume of 1,312,256 shares. The stock’s 50 day moving average is $34.57 and its 200-day moving average is $33.07. The company has a market cap of $8.64 billion, a PE ratio of 100.14 and a beta of 0.55. Zayo Group Holdings has a 12-month low of $29.30 and a 12-month high of $35.75.
Zayo Group Holdings (NYSE:ZAYO) last posted its quarterly earnings data on Monday, August 21st. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Zayo Group Holdings had a return on equity of 7.48% and a net margin of 3.90%. The business had revenue of $638.00 million for the quarter, compared to analyst estimates of $642.67 million. During the same quarter last year, the business earned ($0.13) EPS. Zayo Group Holdings’s revenue for the quarter was up 25.8% compared to the same quarter last year. Analysts forecast 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, CFO Kenneth Desgarennes sold 38,885 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $32.37, for a total transaction of $1,258,707.45. Following the transaction, the chief financial officer now owns 1,047,687 shares in the company, valued at $33,913,628.19. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of the business’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. Insiders sold 5,617,498 shares of company stock worth $192,225,997 in the last quarter. 5.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Dodge & Cox lifted its stake in shares of Zayo Group Holdings by 0.6% during the second quarter. Dodge & Cox now owns 16,565,828 shares of the technology company’s stock worth $511,884,000 after purchasing an additional 96,250 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Zayo Group Holdings by 8.9% during the second quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock worth $425,998,000 after purchasing an additional 1,127,326 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Zayo Group Holdings by 8.7% during the second quarter. BlackRock Inc. now owns 10,207,343 shares of the technology company’s stock worth $315,410,000 after purchasing an additional 813,652 shares in the last quarter. Carmignac Gestion acquired a new position in shares of Zayo Group Holdings during the second quarter worth about $150,427,000. Finally, State Street Corp lifted its stake in shares of Zayo Group Holdings by 9.6% during the second quarter. State Street Corp now owns 3,117,303 shares of the technology company’s stock worth $96,324,000 after purchasing an additional 272,503 shares in the last quarter. Institutional investors own 78.91% of the company’s stock.
About Zayo Group Holdings
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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