Equities research analysts forecast that Zayo Group Holdings, Inc. (NYSE:ZAYO) will report $650.06 million in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Zayo Group’s earnings, with the lowest sales estimate coming in at $646.50 million and the highest estimate coming in at $658.15 million. Zayo Group posted sales of $506.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 28.3%. The company is expected to announce its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Zayo Group will report full-year sales of $650.06 million for the current fiscal year, with estimates ranging from $2.59 billion to $2.64 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.71 billion per share, with estimates ranging from $2.65 billion to $2.77 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Zayo Group.

A number of analysts recently commented on ZAYO shares. Stifel Nicolaus restated a “buy” rating on shares of Zayo Group in a research report on Tuesday, August 22nd. William Blair reaffirmed an “ourperform” rating on shares of Zayo Group in a research note on Tuesday, August 22nd. Cowen reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Zayo Group in a research note on Wednesday, August 23rd. Deutsche Bank initiated coverage on shares of Zayo Group in a research note on Monday, August 28th. They issued a “hold” rating for the company. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $42.00 target price on shares of Zayo Group in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.46.

In other news, major shareholder Fund X/A Lp Gtcr sold 4,700,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $35.90, for a total value of $168,730,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Emily White bought 43,095 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average cost of $34.99 per share, for a total transaction of $1,507,894.05. Following the completion of the acquisition, the director now owns 3,906 shares in the company, valued at approximately $136,670.94. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 4,937,348 shares of company stock valued at $176,927,529. Company insiders own 5.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Hussman Strategic Advisors Inc. bought a new position in shares of Zayo Group during the third quarter worth approximately $1,721,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Zayo Group by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 522,662 shares of the technology company’s stock worth $16,150,000 after purchasing an additional 49,044 shares during the period. State of Wisconsin Investment Board increased its holdings in shares of Zayo Group by 38.5% during the second quarter. State of Wisconsin Investment Board now owns 209,641 shares of the technology company’s stock worth $6,478,000 after purchasing an additional 58,230 shares during the period. Cibc World Markets Corp bought a new position in shares of Zayo Group during the second quarter worth approximately $16,995,000. Finally, Clinton Group Inc. bought a new position in shares of Zayo Group during the second quarter worth approximately $1,134,000. 84.11% of the stock is currently owned by hedge funds and other institutional investors.

Zayo Group (NYSE:ZAYO) traded up $0.08 on Friday, hitting $36.56. 2,493,012 shares of the company were exchanged, compared to its average volume of 2,358,158. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.91 and a current ratio of 0.91. Zayo Group has a 1-year low of $29.30 and a 1-year high of $37.18. The company has a market cap of $9,169.84, a PE ratio of 82.38, a P/E/G ratio of 15.09 and a beta of 0.53.

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Zayo Group Company Profile

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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