Jet-Setter Stock: Zayo Group Holdings, Inc.’s (NYSE:ZAYO)

On 06 Sep 2019, Zayo Group Holdings, Inc.’s (NYSE:ZAYO) has shown upward/downward moved of 0.18% and ended the last trade at $33.82. The trading volume was recorded to 2,119,901 shares as compared to average traded volume of 2,456,390 shares.

Zayo Group Holdings, Inc. (ZAYO) reported results for the three months ended June 30, 2019.

Fourth Fiscal Quarter 2019 Financial Highlights

  • $650.6M of consolidated revenue, including $485.4M from the Zayo Networks section, $66.1M from the zColo section and $88.0M from the Allstream section.
  • Net income of $63.0M resulting in basic and diluted net income per share during the quarter of $0.27 and $0.26, respectively.
  • $321.2M of adjusted EBITDA, including $276.8M from the Zayo Networks section, $30.6M from the zColo section and $12.0M from the Allstream section.
  • Consolidated net installs, on a monthly recurring revenue (MRR) and monthly amortized revenue (MAR) basis, were $1.1M, not including the Allstream section. This includes $1.6M of net installs from the Zayo Networks section, and $(0.4M) of net installs from the zColo section.
  • Adjusted unlevered free cash flow of $140.6M.

Fourth quarter net income increased by $28.3M over the previous quarter. During the three months ended June 30, 2019, capital expenditures were $195.8M. As of June 30, 2019, the Company had $186.1 and $296.5M accessible under its revolving credit facility.

Recent Developments

Important Merger Development

On July 26, 2019, the Company held a special meeting of stockholders where the stockholders accepted the adoption of the before reported merger contract. On July 31, 2019, the Company reported the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976. The closing of the merger remains subject to customary conditions, including certain regulatory authorization s. The transaction is predictable to close in the first half of 2020.

ZAYO as of last trading session moved 66.85% up from its 52 week low and was -5.21% behind its 52 week high. The stock price switched up 0.15% 20-Days Simple Moving Average, added 0.71% from 50-Days Simple Moving Average and rose 14.38% from 200 Days Simple Moving Average.

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