Zayo Group (NYSE:ZAYO) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.
Several other equities analysts have also issued reports on the company. SunTrust Banks restated a “buy” rating and set a $38.00 price target on shares of Zayo Group in a research note on Thursday. Moffett Nathanson upgraded Zayo Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 15th. Jefferies Financial Group initiated coverage on Zayo Group in a research note on Tuesday, September 4th. They set a “buy” rating and a $49.00 price target on the stock. TheStreet lowered Zayo Group from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd. Finally, BTIG Research lowered Zayo Group from a “buy” rating to a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, two have given 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 target price of $38.64.
Shares of ZAYO opened at $23.26 on Thursday. Zayo Group has a 12-month low of $22.00 and a 12-month high of $39.66. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $7.42 billion, a P/E ratio of 38.13, a PEG ratio of 11.28 and a beta of 0.64.
Zayo Group (NYSE:ZAYO) last issued its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $641.10 million for the quarter, compared to the consensus estimate of $647.21 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Analysts anticipate that Zayo Group will post 0.53 EPS for the current fiscal year.
In other news, Director Richard W. Connor sold 1,038 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $33.95, for a total value of $35,240.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Daniel Caruso sold 337,079 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $29.67, for a total value of $10,001,133.93. Following the completion of the transaction, the chief executive officer now directly owns 471,851 shares in the company, valued at $13,999,819.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 609,250 shares of company stock worth $20,215,335. Corporate insiders own 4.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Carillon Tower Advisers Inc. boosted its holdings in shares of Zayo Group by 19.6% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 838,172 shares of the technology company’s stock worth $30,576,000 after acquiring an additional 137,166 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Zayo Group by 141.2% in the 2nd quarter. Morgan Stanley now owns 1,837,250 shares of the technology company’s stock worth $67,025,000 after acquiring an additional 1,075,453 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Zayo Group by 18.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,700 shares of the technology company’s stock worth $615,000 after acquiring an additional 2,700 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Zayo Group in the 3rd quarter worth approximately $1,007,000. Finally, Tyers Asset Management LLC lifted its holdings in Zayo Group by 26.7% during the 2nd quarter. Tyers Asset Management LLC now owns 27,664 shares of the technology company’s stock worth $1,009,000 after buying an additional 5,824 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.
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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