Zayo Group Holdings Inc (NYSE:ZAYO) Expected to Post Quarterly Sales of $645.24 Million

Brokerages expect Zayo Group Holdings Inc (NYSE:ZAYO) to post $645.24 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Zayo Group’s earnings, with estimates ranging from $637.60 million to $650.70 million. Zayo Group reported sales of $657.60 million in the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The business is expected to announce its next quarterly earnings results on Wednesday, August 28th.

According to Zacks, analysts expect that Zayo Group will report full year sales of $2.57 billion for the current financial year, with estimates ranging from $2.56 billion to $2.58 billion. For the next financial year, analysts anticipate that the business will report sales of $2.60 billion, with estimates ranging from $2.54 billion to $2.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Zayo Group.

Zayo Group (NYSE:ZAYO) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). Zayo Group had a return on equity of 9.56% and a net margin of 5.06%. The firm had revenue of $647.20 million for the quarter, compared to analyst estimates of $639.98 million. During the same quarter last year, the business posted $0.09 EPS. The firm’s revenue was down .3% compared to the same quarter last year.



A number of brokerages have weighed in on ZAYO. William Blair lowered shares of Zayo Group from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Zacks Investment Research lowered shares of Zayo Group from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. Cowen lowered shares of Zayo Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $37.00 to $35.00 in a report on Wednesday, May 15th. SunTrust Banks lowered shares of Zayo Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, Royal Bank of Canada lowered shares of Zayo Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $33.00 to $35.00 in a report on Wednesday, May 8th. Thirteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.02.

In other news, Director Richard W. Connor sold 15,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $32.67, for a total value of $490,050.00. Following the transaction, the director now owns 136,174 shares of the company’s stock, valued at approximately $4,448,804.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sandra Mays sold 2,745 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total transaction of $76,969.80. Following the completion of the transaction, the insider now directly owns 47,395 shares in the company, valued at approximately $1,328,955.80. The disclosure for this sale can be found here. In the last three months, insiders sold 987,834 shares of company stock worth $32,314,474. Insiders own 4.50% of the company’s stock.

Several hedge funds have recently modified their holdings of ZAYO. Advisory Services Network LLC grew its position in Zayo Group by 138.5% in the first quarter. Advisory Services Network LLC now owns 992 shares of the technology company’s stock worth $28,000 after acquiring an additional 576 shares in the last quarter. Federated Investors Inc. PA bought a new position in Zayo Group in the 1st quarter worth about $30,000. Truvestments Capital LLC bought a new position in Zayo Group in the 1st quarter worth about $53,000. Ffcm LLC boosted its stake in Zayo Group by 104.3% in the 4th quarter. Ffcm LLC now owns 2,832 shares of the technology company’s stock worth $65,000 after purchasing an additional 1,446 shares during the period. Finally, Strs Ohio boosted its stake in Zayo Group by 28.0% in the 1st quarter. Strs Ohio now owns 2,763 shares of the technology company’s stock worth $78,000 after purchasing an additional 604 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

NYSE ZAYO traded down $0.05 during mid-day trading on Friday, reaching $32.62. 1,683,293 shares of the stock were exchanged, compared to its average volume of 5,859,126. Zayo Group has a 1-year low of $20.27 and a 1-year high of $39.66. The firm has a market cap of $7.70 billion, a P/E ratio of 53.48, a price-to-earnings-growth ratio of 13.19 and a beta of 0.81. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.83 and a current ratio of 0.83.

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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Earnings History and Estimates for Zayo Group (NYSE:ZAYO)

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