Zayo Reported In Line Results but Recorded Weaker Net Bookings; Shares Overvalued
Zayo’s second-quarter results for fiscal 2017 roughly tracked our expectations, featuring solid growth across all segments and stable profitability. However, total net bookings, which offer visibility into revenue the firm can realize in quarters ahead, fell 24% year over year to the lowest level seen since December 2014. Management attributed this drop in net new sales to the firm’s 50 largest clients, many of whom are carriers leasing Zayo’s infrastructure and suggested that the pause in near-...Zayo Group Holdings is a holding company. Through its subsidiaries, the company is a provider of communications and bandwidth infrastructure in the United States, Canada and Europe. The company has four segments: Zayo Networks, which provides access to bandwidth infrastructure; Zayo Colocation, which provides data center and cloud infrastructure solutions to a range of enterprise, carrier, cloud and content customers; Allstream, which provides Cloud VoIP and Data Solutions; and Other, which is comprised of Zayo Professional Services that provides network and technical resources to customers. Key products include leased dark fiber, fiber to cellular towers and small cell sites and other bandwidth offering.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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