UBS AG Initiates Coverage on Zayo Group Holdings, Inc. (ZAYO)
Investment analysts at UBS AG assumed coverage on shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) in a note issued to investors on Tuesday. The brokerage set a “buy” rating on the technology company’s stock.
Other equities research analysts have also recently issued reports about the company. Cowen and Company reaffirmed a “buy” rating on shares of Zayo Group Holdings in a report on Friday, August 11th. BidaskClub cut Zayo Group Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. William Blair reaffirmed an “ourperform” rating on shares of Zayo Group Holdings in a report on Tuesday, August 22nd. Zacks Investment Research cut Zayo Group Holdings from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, KeyCorp reissued a “hold” rating on shares of Zayo Group Holdings in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $38.50.
Zayo Group Holdings (NYSE ZAYO) opened at 35.47 on Tuesday. Zayo Group Holdings has a 12 month low of $29.30 and a 12 month high of $35.65. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 101.34 and a beta of 0.55. The firm’s 50-day moving average price is $34.63 and its 200-day moving average price is $33.11.
Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The business had revenue of $638.00 million for the quarter, compared to analyst estimates of $642.67 million. During the same period in the prior year, the business earned ($0.13) earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts predict that Zayo Group Holdings will post $0.61 earnings per share for the current year.
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In other news, CEO Daniel Caruso sold 58,634 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $34.55, for a total value of $2,025,804.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Andrew Crouch sold 22,803 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $34.10, for a total value of $777,582.30. The disclosure for this sale can be found here. Insiders sold a total of 5,617,498 shares of company stock worth $192,225,997 over the last 90 days. 5.20% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Zayo Group Holdings by 5,686.4% during the first quarter. BlackRock Inc. now owns 9,393,691 shares of the technology company’s stock worth $309,054,000 after acquiring an additional 9,231,349 shares in the last quarter. Carmignac Gestion bought a new position in Zayo Group Holdings during the second quarter worth about $150,427,000. Neuberger Berman Group LLC lifted its holdings in Zayo Group Holdings by 43,789.5% during the second quarter. Neuberger Berman Group LLC now owns 2,707,985 shares of the technology company’s stock worth $83,677,000 after acquiring an additional 2,701,815 shares in the last quarter. USS Investment Management Ltd bought a new position in Zayo Group Holdings during the second quarter worth about $63,335,000. Finally, Vanguard Group Inc. lifted its holdings in Zayo Group Holdings by 12.7% during the first quarter. Vanguard Group Inc. now owns 12,658,989 shares of the technology company’s stock worth $416,480,000 after acquiring an additional 1,428,585 shares in the last quarter. Institutional investors and hedge funds own 78.91% 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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