Zayo Group Holdings, Inc. (ZAYO) Coverage Initiated at Deutsche Bank AG
Deutsche Bank AG assumed coverage on shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) in a research note published on Monday, The Fly reports. The brokerage issued a hold rating on the technology company’s stock.
Several other research firms have also issued reports on ZAYO. Zacks Investment Research upgraded Zayo Group Holdings from a hold rating to a buy rating and set a $39.00 price target on the stock in a research report on Wednesday, May 3rd. Raymond James Financial, Inc. restated a market perform rating on shares of Zayo Group Holdings in a research report on Wednesday, May 10th. J P Morgan Chase & Co lowered Zayo Group Holdings from an overweight rating to a neutral rating and raised their price target for the stock from $35.00 to $36.00 in a research report on Wednesday, May 10th. BidaskClub upgraded Zayo Group Holdings from a sell rating to a hold rating in a report on Friday, August 11th. Finally, Cowen and Company reiterated a buy rating on shares of Zayo Group Holdings in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $38.36.
Zayo Group Holdings (NYSE:ZAYO) opened at 34.17 on Monday. The company has a 50 day moving average price of $32.94 and a 200-day moving average price of $32.51. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 97.63 and a beta of 0.56. Zayo Group Holdings has a 1-year low of $27.74 and a 1-year high of $35.65.
Zayo Group Holdings (NYSE:ZAYO) last posted its quarterly earnings results 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 company had revenue of $638 million for the quarter, compared to the consensus estimate of $642.67 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Zayo Group Holdings’s revenue was up 25.8% compared to the same quarter last year. On average, analysts forecast that Zayo Group Holdings will post $0.59 EPS for the current fiscal year.
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In other Zayo Group Holdings news, CEO Daniel Caruso sold 49,868 shares of Zayo Group Holdings stock in a transaction on Monday, June 12th. The stock was sold at an average price of $32.03, for a total value of $1,597,272.04. Following the completion of the sale, the chief executive officer now owns 4,581,329 shares of the company’s stock, valued at approximately $146,739,967.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Desgarennes sold 38,885 shares of Zayo Group Holdings stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $34.08, for a total value of $1,325,200.80. Following the completion of the sale, the chief financial officer now directly owns 1,018,044 shares of the company’s stock, valued at approximately $34,694,939.52. The disclosure for this sale can be found here. Insiders have sold 637,306 shares of company stock valued at $20,358,826 in the last quarter. 5.80% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of ZAYO. Dodge & Cox raised its stake in Zayo Group Holdings by 0.6% in the second quarter. Dodge & Cox now owns 16,565,828 shares of the technology company’s stock worth $511,884,000 after buying an additional 96,250 shares during the last quarter. Vanguard Group Inc. raised its stake in Zayo Group Holdings by 8.9% in the second quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock worth $425,998,000 after buying an additional 1,127,326 shares during the last quarter. BlackRock Inc. raised its stake in Zayo Group Holdings by 8.7% in the second quarter. BlackRock Inc. now owns 10,207,343 shares of the technology company’s stock worth $315,410,000 after buying an additional 813,652 shares during the last quarter. Carmignac Gestion acquired a new stake in Zayo Group Holdings during the second quarter worth approximately $150,427,000. Finally, State Street Corp raised its stake in Zayo Group Holdings by 9.6% in the second quarter. State Street Corp now owns 3,117,303 shares of the technology company’s stock worth $96,324,000 after buying an additional 272,503 shares during the last quarter. 78.93% of the stock is owned by institutional investors and hedge funds.
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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