Wall Street analysts predict that Zayo Group Holdings, Inc. (NYSE:ZAYO) will report sales of $643.18 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Zayo Group Holdings’ earnings, with the lowest sales estimate coming in at $640.80 million and the highest estimate coming in at $647.80 million. Zayo Group Holdings posted sales of $504.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.4%. The business is expected to announce its next quarterly earnings report on Tuesday, November 14th.

On average, analysts expect that Zayo Group Holdings will report full year sales of $643.18 million for the current fiscal year, with estimates ranging from $2.58 billion to $2.65 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.72 billion per share, with estimates ranging from $2.63 billion to $2.78 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Zayo Group Holdings.

Zayo Group Holdings (NYSE:ZAYO) last issued its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $638 million during the quarter, compared to the consensus estimate of $642.67 million. Zayo Group Holdings had a return on equity of 7.48% and a net margin of 3.90%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) EPS.

A number of research firms recently weighed in on ZAYO. Cowen and Company reissued an “outperform” rating and set a $45.00 target price on shares of Zayo Group Holdings in a report on Wednesday. William Blair reissued an “ourperform” rating on shares of Zayo Group Holdings in a report on Tuesday, August 22nd. Stifel Nicolaus restated a “buy” rating on shares of Zayo Group Holdings in a research note on Tuesday, August 22nd. BidaskClub upgraded Zayo Group Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research downgraded Zayo Group Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.36.

In related news, CFO Kenneth Desgarennes sold 38,885 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $34.08, for a total transaction of $1,325,200.80. Following the completion of the sale, the chief financial officer now directly owns 1,018,044 shares in the company, valued at approximately $34,694,939.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel Caruso sold 154,402 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $32.38, for a total value of $4,999,536.76. Following the sale, the chief executive officer now owns 4,608,165 shares of the company’s stock, valued at $149,212,382.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 637,306 shares of company stock valued at $20,358,826. Corporate insiders own 5.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in shares of Zayo Group Holdings by 13.0% in the first quarter. Prudential Financial Inc. now owns 9,600 shares of the technology company’s stock valued at $316,000 after buying an additional 1,102 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Zayo Group Holdings by 19.6% in the second quarter. Xact Kapitalforvaltning AB now owns 16,758 shares of the technology company’s stock valued at $518,000 after buying an additional 2,749 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Zayo Group Holdings by 1,118.9% in the first quarter. JPMorgan Chase & Co. now owns 570,261 shares of the technology company’s stock valued at $18,762,000 after buying an additional 523,476 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Zayo Group Holdings by 17.7% in the first quarter. DnB Asset Management AS now owns 13,995 shares of the technology company’s stock valued at $460,000 after buying an additional 2,100 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Zayo Group Holdings by 26.9% in the first quarter. Morgan Stanley now owns 191,540 shares of the technology company’s stock valued at $6,302,000 after buying an additional 40,598 shares in the last quarter. Institutional investors and hedge funds own 75.89% of the company’s stock.

Shares of Zayo Group Holdings (NYSE:ZAYO) traded up 0.06% during mid-day trading on Thursday, hitting $34.31. 1,176,825 shares of the company were exchanged. The stock has a market cap of $8.46 billion, a PE ratio of 98.03 and a beta of 0.56. The stock’s 50-day moving average price is $32.49 and its 200 day moving average price is $32.42. Zayo Group Holdings has a 12-month low of $27.74 and a 12-month high of $35.65.

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About Zayo Group Holdings

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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