Brokers Set Expectations for Zayo Group Holdings Inc’s FY2018 Earnings (ZAYO)

Zayo Group Holdings Inc (NYSE:ZAYO) – Equities researchers at KeyCorp decreased their FY2018 earnings per share (EPS) estimates for Zayo Group in a research note issued to investors on Wednesday. KeyCorp analyst B. Nispel now forecasts that the technology company will earn $0.54 per share for the year, down from their previous forecast of $0.69. KeyCorp also issued estimates for Zayo Group’s FY2019 earnings at $0.88 EPS.

Several other brokerages have also issued reports on ZAYO. Citigroup reaffirmed a “buy” rating on shares of Zayo Group in a report on Thursday, December 14th. Morgan Stanley raised their price objective on Zayo Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday. SunTrust Banks raised their price objective on Zayo Group to $45.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub raised Zayo Group from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Finally, Barclays reaffirmed a “buy” rating and set a $41.00 price objective on shares of Zayo Group in a report on Friday, January 19th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Zayo Group presently has a consensus rating of “Buy” and an average price target of $41.09.

Zayo Group (NYSE:ZAYO) opened at $35.23 on Monday. The stock has a market capitalization of $8,680.00, a PE ratio of 103.62, a price-to-earnings-growth ratio of 14.34 and a beta of 0.47. Zayo Group has a twelve month low of $29.73 and a twelve month high of $37.95. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.81.

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in Zayo Group by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 9,018 shares of the technology company’s stock valued at $280,000 after purchasing an additional 775 shares during the period. Navellier & Associates Inc lifted its position in Zayo Group by 9.7% in the second quarter. Navellier & Associates Inc now owns 14,261 shares of the technology company’s stock valued at $441,000 after purchasing an additional 1,262 shares during the period. Macquarie Group Ltd. lifted its position in Zayo Group by 2.6% in the second quarter. Macquarie Group Ltd. now owns 59,400 shares of the technology company’s stock valued at $1,835,000 after purchasing an additional 1,500 shares during the period. Congress Asset Management Co. MA lifted its position in Zayo Group by 0.8% in the fourth quarter. Congress Asset Management Co. MA now owns 203,004 shares of the technology company’s stock valued at $7,471,000 after purchasing an additional 1,605 shares during the period. Finally, Aperio Group LLC lifted its position in Zayo Group by 5.8% in the fourth quarter. Aperio Group LLC now owns 29,806 shares of the technology company’s stock valued at $1,097,000 after purchasing an additional 1,628 shares during the period. Hedge funds and other institutional investors own 84.71% of the company’s stock.

In related news, Director Richard W. Connor sold 1,091 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $36.76, for a total transaction of $40,105.16. Following the transaction, the director now owns 147,169 shares of the company’s stock, valued at $5,409,932.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel Caruso sold 17,950 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $37.76, for a total value of $677,792.00. Following the transaction, the chief executive officer now directly owns 4,274,654 shares in the company, valued at approximately $161,410,935.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,992,882 shares of company stock worth $179,430,128. Corporate insiders own 5.20% of the company’s stock.

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Zayo Group 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.

Earnings History and Estimates for Zayo Group (NYSE:ZAYO)

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