Zayo Group Holdings, Inc. (ZAYO - Free Report) , a provider of communications infrastructure services, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ZAYO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Zayo Group could be a solid choice for investors.
Current Quarter Estimates for ZAYO
In the past 30 days, 5 estimates have gone higher for Zayo Group while 1 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 5 cents a share 30 days ago, to 7 cents today, a move of 40%.
Current Year Estimates for ZAYO
Meanwhile, Zayo Group’s current year figures are also looking quite promising, with 5 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 24 cents per share 30 days ago to 28 cents per share today, an increase of 16.7%.
The stock has also started to move higher lately, adding 7.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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