Analysts Offer Predictions for Zayo Group Holdings Inc’s Q1 2019 Earnings (ZAYO)
Zayo Group Holdings Inc (NYSE:ZAYO) – Analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for Zayo Group in a research note issued to investors on Tuesday, September 4th. Jefferies Financial Group analyst S. Goldman expects that the technology company will post earnings of $0.15 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a $49.00 price objective on the stock. Jefferies Financial Group also issued estimates for Zayo Group’s Q2 2019 earnings at $0.16 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.19 EPS, FY2019 earnings at $0.68 EPS and FY2020 earnings at $0.94 EPS.
Several other equities analysts have also recently issued reports on the company. Bank of America initiated coverage on Zayo Group in a research note on Friday, May 18th. They set a “buy” rating and a $43.00 target price on the stock. Zacks Investment Research cut Zayo Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 8th. ValuEngine raised Zayo Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. William Blair reissued an “outperform” rating on shares of Zayo Group in a research note on Thursday, August 23rd. Finally, TheStreet raised Zayo Group from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Zayo Group has an average rating of “Buy” and an average target price of $42.80.
Zayo Group (NYSE:ZAYO) last posted its earnings results on Wednesday, August 22nd. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.09. Zayo Group had a return on equity of 9.97% and a net margin of 3.91%. The firm had revenue of $657.60 million for the quarter, compared to analysts’ expectations of $655.78 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC boosted its holdings in Zayo Group by 56.5% in the second quarter. Cerebellum GP LLC now owns 5,048 shares of the technology company’s stock worth $184,000 after acquiring an additional 1,822 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in Zayo Group in the first quarter worth $212,000. IFM Investors Pty Ltd bought a new stake in Zayo Group in the second quarter worth $275,000. D.A. Davidson & CO. bought a new stake in Zayo Group in the first quarter worth $258,000. Finally, HL Financial Services LLC bought a new stake in Zayo Group in the second quarter worth $314,000. Institutional investors own 93.94% of the company’s stock.
In related news, Director Richard W. Connor sold 1,096 shares of Zayo Group stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $37.41, for a total transaction of $41,001.36. Following the sale, the director now directly owns 147,281 shares in the company, valued at $5,509,782.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matt Steinfort sold 1,188 shares of Zayo Group stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $37.10, for a total value of $44,074.80. Following the sale, the chief financial officer now owns 11,694 shares in the company, valued at $433,847.40. The disclosure for this sale can be found here. Insiders have sold 297,521 shares of company stock worth $11,197,143 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.
About Zayo Group
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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