Citigroup Lowers Zayo Group (ZAYO) to Neutral

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Citigroup lowered shares of Zayo Group (NYSE:ZAYO) from a buy rating to a neutral rating in a research note released on Thursday morning, Benzinga reports. They currently have $35.00 target price on the technology company’s stock, down from their previous target price of $38.00.

Several other analysts have also weighed in on ZAYO. UBS Group lifted their price objective on shares of Zayo Group from $30.00 to $35.00 and gave the company a neutral rating in a research note on Thursday, May 9th. William Blair lowered shares of Zayo Group from an outperform rating to a market perform rating in a research note on Thursday, May 9th. Zacks Investment Research lowered shares of Zayo Group from a buy rating to a hold rating in a research note on Saturday, February 16th. Moffett Nathanson lowered shares of Zayo Group from a buy rating to a neutral rating in a research note on Wednesday, May 8th. Finally, Craig Hallum lowered shares of Zayo Group from a buy rating to a hold rating in a research note on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Zayo Group currently has a consensus rating of Hold and an average price target of $35.53.

Shares of NYSE ZAYO traded down $0.07 during midday trading on Thursday, reaching $32.74. The stock had a trading volume of 135,484 shares, compared to its average volume of 9,938,008. The company has a market capitalization of $7.72 billion, a P/E ratio of 53.69, a price-to-earnings-growth ratio of 11.57 and a beta of 0.93. Zayo Group has a twelve month low of $20.27 and a twelve month high of $39.66. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.83 and a current ratio of 0.83.

Zayo Group (NYSE:ZAYO) last issued its quarterly 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). The firm had revenue of $647.20 million during the quarter, compared to analyst estimates of $639.98 million. Zayo Group had a return on equity of 9.56% and a net margin of 5.06%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. Analysts forecast that Zayo Group will post 0.57 earnings per share for the current year.

In other news, insider Sandra Mays sold 2,745 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total value of $76,969.80. Following the completion of the sale, the insider now owns 47,395 shares in the company, valued at approximately $1,328,955.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John F. Jr. Waters sold 6,296 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $28.04, for a total transaction of $176,539.84. Following the completion of the sale, the chief operating officer now owns 102,241 shares of the company’s stock, valued at approximately $2,866,837.64. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ZAYO. Bank of New York Mellon Corp grew its stake in shares of Zayo Group by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 941,186 shares of the technology company’s stock worth $32,678,000 after acquiring an additional 46,617 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Zayo Group by 14.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,058,930 shares of the technology company’s stock worth $36,766,000 after acquiring an additional 134,332 shares in the last quarter. Morgan Stanley grew its stake in shares of Zayo Group by 149.3% in the 3rd quarter. Morgan Stanley now owns 4,579,809 shares of the technology company’s stock worth $159,012,000 after acquiring an additional 2,742,559 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Zayo Group by 14.9% in the 4th quarter. State of Alaska Department of Revenue now owns 27,977 shares of the technology company’s stock worth $638,000 after acquiring an additional 3,618 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Zayo Group in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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.

Further Reading: Dollar Cost Averaging

Analyst Recommendations for Zayo Group (NYSE:ZAYO)

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