Zayo Group (NYSE:ZAYO) issued its earnings results on Wednesday. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03), Briefing.com reports. The business had revenue of $641.10 million during the quarter, compared to analyst estimates of $647.21 million. Zayo Group had a net margin of 3.91% and a return on equity of 9.97%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS.
NYSE:ZAYO traded down $7.82 during trading hours on Thursday, hitting $22.56. 18,985,073 shares of the company were exchanged, compared to its average volume of 2,603,088. The firm has a market cap of $7.42 billion, a P/E ratio of 36.98, a P/E/G ratio of 11.28 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.90. Zayo Group has a one year low of $22.00 and a one year high of $39.66.
Several equities research analysts recently weighed in on the company. Raymond James cut their price objective on Zayo Group from $43.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Co reissued an “outperform” rating and set a $34.00 price objective (down previously from $42.00) on shares of Zayo Group in a report on Thursday. BTIG Research downgraded Zayo Group from a “buy” rating to a “neutral” rating in a report on Thursday. UBS Group downgraded Zayo Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $45.00 to $32.00 in a report on Thursday. Finally, SunTrust Banks reissued a “buy” rating and set a $38.00 price objective on shares of Zayo Group in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.50.
Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Zayo Group in the 3rd quarter worth about $128,000. Signition LP bought a new position in shares of Zayo Group in the 3rd quarter worth about $264,000. IFM Investors Pty Ltd bought a new position in shares of Zayo Group in the 2nd quarter worth about $275,000. HL Financial Services LLC bought a new position in shares of Zayo Group in the 2nd quarter worth about $314,000. Finally, Highland Capital Management LP bought a new position in shares of Zayo Group in the 2nd quarter worth about $348,000. 94.97% of the stock is owned by hedge funds and other institutional investors.
Zayo Group Company Profile
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.
Featured Story: Bull Market
Receive News & Ratings for Zayo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group and related companies with MarketBeat.com's FREE daily email newsletter.