Zayo Group (NYSE:ZAYO) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Thursday, The Fly reports.
A number of other equities research analysts have also recently weighed in on ZAYO. Zacks Investment Research cut Zayo Group from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. William Blair reaffirmed an “outperform” rating on shares of Zayo Group in a report on Thursday, August 23rd. ValuEngine cut Zayo Group from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. TheStreet raised Zayo Group from a “c+” rating to a “b-” rating in a report on Friday, August 24th. Finally, Jefferies Financial Group started coverage on Zayo Group in a report on Tuesday, September 4th. They set a “buy” rating and a $49.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Zayo Group currently has an average rating of “Buy” and a consensus price target of $38.64.
ZAYO stock opened at $23.26 on Thursday. Zayo Group has a fifty-two week low of $22.00 and a fifty-two week high of $39.66. The firm has a market cap of $7.42 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 11.28 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.90.
Zayo Group (NYSE:ZAYO) last released its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). Zayo Group had a net margin of 3.91% and a return on equity of 9.97%. The business had revenue of $641.10 million for the quarter, compared to analyst estimates of $647.21 million. During the same period in the prior year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts expect that Zayo Group will post 0.53 EPS for the current fiscal year.
In other Zayo Group news, insider Sandra Mays sold 1,586 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $34.14, for a total value of $54,146.04. Following the transaction, the insider now directly owns 35,800 shares in the company, valued at approximately $1,222,212. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Caruso sold 265,866 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $37.61, for a total value of $9,999,220.26. Following the completion of the transaction, the chief executive officer now owns 471,851 shares in the company, valued at $17,746,316.11. The disclosure for this sale can be found here. Insiders sold a total of 609,250 shares of company stock worth $20,215,335 over the last quarter. Corporate insiders own 4.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Zayo Group in the 3rd quarter valued at $128,000. IFM Investors Pty Ltd bought a new position in shares of Zayo Group in the 2nd quarter worth $275,000. Signition LP bought a new position in shares of Zayo Group in the 3rd quarter worth $264,000. HL Financial Services LLC bought a new position in shares of Zayo Group in the 2nd quarter worth $314,000. Finally, Highland Capital Management LP bought a new position in shares of Zayo Group in the 2nd quarter worth $348,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.
Zayo Group Company Profile
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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