Equities Analysts Issue Forecasts for Zayo Group Holdings Inc’s FY2018 Earnings (ZAYO)
Zayo Group Holdings Inc (NYSE:ZAYO) – Equities researchers at SunTrust Banks dropped their FY2018 earnings per share estimates for Zayo Group in a research note issued on Thursday. SunTrust Banks analyst G. Miller now forecasts that the technology company will post earnings per share of $0.35 for the year, down from their previous estimate of $0.46. SunTrust Banks currently has a “Buy” rating and a $45.00 price target on the stock.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Zayo Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Saturday. Royal Bank of Canada reiterated a “buy” rating on shares of Zayo Group in a report on Friday, February 9th. Morgan Stanley lifted their target price on Zayo Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Barclays reiterated a “buy” rating and issued a $41.00 target price on shares of Zayo Group in a report on Friday, January 19th. Finally, Citigroup reiterated a “buy” rating on shares of Zayo Group in a report on Thursday, December 14th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.09.
Zayo Group (NYSE:ZAYO) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.10. The business had revenue of $653.50 million during the quarter, compared to analysts’ expectations of $650.79 million. Zayo Group had a return on equity of 10.19% and a net margin of 3.42%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in Zayo Group by 13,304.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,420,376 shares of the technology company’s stock valued at $43,890,000 after purchasing an additional 1,409,780 shares in the last quarter. Jana Partners LLC raised its position in Zayo Group by 48.0% during the 3rd quarter. Jana Partners LLC now owns 4,175,993 shares of the technology company’s stock valued at $143,738,000 after purchasing an additional 1,353,775 shares in the last quarter. Thornburg Investment Management Inc. bought a new stake in Zayo Group during the 3rd quarter valued at $35,451,000. USS Investment Management Ltd raised its position in Zayo Group by 46.3% during the 4th quarter. USS Investment Management Ltd now owns 3,000,000 shares of the technology company’s stock valued at $110,415,000 after purchasing an additional 950,000 shares in the last quarter. Finally, BlackRock Inc. raised its position in Zayo Group by 8.0% during the 4th quarter. BlackRock Inc. now owns 12,094,964 shares of the technology company’s stock valued at $445,095,000 after purchasing an additional 900,414 shares in the last quarter. Institutional investors own 84.74% of the company’s stock.
In related news, major shareholder Fund X/A Lp Gtcr sold 4,700,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $35.90, for a total transaction of $168,730,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Caruso sold 17,950 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $37.76, for a total value of $677,792.00. Following the transaction, the chief executive officer now owns 4,274,654 shares of the company’s stock, valued at approximately $161,410,935.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,992,882 shares of company stock valued at $179,430,128. 5.20% of the stock is owned by company insiders.
About Zayo Group
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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