On Friday, Shares of Zayo Group Holdings Inc. (NYSE: ZAYO) showed the bearish trend with a lower momentum of -0.13% to $31.71. The company traded total volume of 5,843,380 shares as contrast to its average volume of 5.44M shares. The company has a market value of $7.48B and about 235.76M shares outstanding.
Zayo Group Holdings, Inc. (“Zayo” or “the Company”) (ZAYO), a global leader in Communications Infrastructure, declared results for the three months ended December 31, 2018.
Second quarter net income increased $8.10M over the previous quarter. Basic and diluted net income per share during the second fiscal quarter was $0.13. During the three months ended December 31, 2018, capital expenditures were $202.20M.
As of December 31, 2018, the Company had $176.40M of cash and $231.80M available under its revolving credit facility.
Share Repurchases and Revolving Credit Facility Borrowings
Under the Company’s share repurchase authorization, during the three months ended December 31, 2018, the Company repurchased 12,967,663 shares of its outstanding common stock at an average price of $31.02, or $402.30M. The share repurchase authorization expired on November 7, 2018, with the Company having repurchased $496.00M under the authorization. The share repurchases were partially funded by an aggregate amount of $250.00M of borrowings under the Company’s revolving credit facility during the quarter. The Company paid down $40.00M on the revolving credit facility in December, resulting in $231.80M in availability under the revolving credit facility as of December 31, 2018.
In January 2019, the Company borrowed $25.00M under the Revolver and subsequently repaid $25.00M, leaving $231.80M available under the Revolver.
The Company offered net profit margin of 4.60% while its gross profit margin was 64.30%. ROE was recorded as 8.30% while beta factor was 0.91. The stock, as of recent close, has shown the weekly upbeat performance of 3.02% which was maintained at 38.84% in this year.