Zayo Group Holdings, Inc. (ZAYO) Downgraded to “C+” at TheStreet
Zayo Group Holdings, Inc. (NYSE:ZAYO) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Monday.
Other analysts have also issued reports about the stock. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $42.00 price target on shares of Zayo Group Holdings in a research report on Wednesday, September 13th. Stifel Nicolaus reissued a “buy” rating on shares of Zayo Group Holdings in a research report on Tuesday, August 22nd. Cowen and Company reissued a “buy” rating on shares of Zayo Group Holdings in a research report on Friday, August 11th. UBS AG initiated coverage on shares of Zayo Group Holdings in a research report on Tuesday, October 17th. They set a “buy” rating for the company. Finally, KeyCorp reissued a “hold” rating on shares of Zayo Group Holdings in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.46.
Shares of Zayo Group Holdings (NYSE ZAYO) opened at $34.37 on Monday. The company has a market cap of $8,406.72, a PE ratio of 75.52, a price-to-earnings-growth ratio of 13.83 and a beta of 0.56. Zayo Group Holdings has a 1 year low of $29.30 and a 1 year high of $36.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.81.
Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The firm had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $642.67 million. Zayo Group Holdings had a net margin of 3.99% and a return on equity of 8.01%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) earnings per share. equities research analysts predict that Zayo Group Holdings will post 0.49 EPS for the current year.
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In related news, CFO Kenneth Desgarennes sold 38,885 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $34.08, for a total value of $1,325,200.80. Following the transaction, the chief financial officer now owns 1,018,044 shares in the company, valued at approximately $34,694,939.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel Caruso sold 295,078 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $33.89, for a total transaction of $10,000,193.42. Following the completion of the transaction, the chief executive officer now owns 4,284,854 shares in the company, valued at approximately $145,213,702.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,271,311 shares of company stock worth $180,967,923. 5.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Carmignac Gestion acquired a new stake in shares of Zayo Group Holdings during the 2nd quarter worth approximately $150,427,000. Neuberger Berman Group LLC grew its stake in shares of Zayo Group Holdings by 43,789.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,707,985 shares of the technology company’s stock worth $83,677,000 after purchasing an additional 2,701,815 shares during the period. USS Investment Management Ltd acquired a new stake in shares of Zayo Group Holdings during the 2nd quarter worth approximately $63,335,000. Janus Henderson Group PLC grew its stake in shares of Zayo Group Holdings by 13,304.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,420,376 shares of the technology company’s stock worth $43,890,000 after purchasing an additional 1,409,780 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Zayo Group Holdings by 8.9% during the 2nd 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 during the period. Institutional investors own 78.15% 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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