Zacks Investment Research upgraded shares of J2 Global (NASDAQ:JCOM) from a sell rating to a hold rating in a report published on Tuesday, December 19th.
According to Zacks, “j2 Global's top line has been benefitting from growth across all its segments. The company's efforts to reward shareholders through dividend payments is impressive. It recently hiked its quarterly dividend payout by 2.6%. This is the 25th such dividend hike. The company's growth-by-acquisition policy also holds promise. However, high costs from investments have been hurting j2 Global for quite some time. Such high costs have the potential to limit bottom line growth in future as well. We are also cautious about the company's high debt levels. Shares of j2 Global have underperformed its industry in the last six months.”
Other equities research analysts have also issued reports about the stock. Robert W. Baird reiterated a buy rating and issued a $94.00 price target on shares of J2 Global in a research note on Friday, September 1st. ValuEngine upgraded shares of J2 Global from a hold rating to a buy rating in a research note on Wednesday, October 11th. Finally, BidaskClub lowered shares of J2 Global from a hold rating to a sell rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. J2 Global presently has a consensus rating of Hold and a consensus price target of $101.75.
Shares of J2 Global (NASDAQ JCOM) opened at $77.03 on Tuesday. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 1.02. J2 Global has a fifty-two week low of $71.09 and a fifty-two week high of $91.48. The company has a market cap of $3,753.62, a price-to-earnings ratio of 28.53 and a beta of 0.87.
J2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.02). J2 Global had a return on equity of 26.43% and a net margin of 12.60%. The firm had revenue of $273.60 million for the quarter, compared to the consensus estimate of $272.84 million. During the same period in the prior year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. equities analysts forecast that J2 Global will post 5.35 earnings per share for the current fiscal year.
In related news, VP Jeremy Rossen sold 2,514 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $74.05, for a total value of $186,161.70. Following the transaction, the vice president now owns 26,372 shares in the company, valued at approximately $1,952,846.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.15% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of J2 Global by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock worth $150,000 after acquiring an additional 241 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of J2 Global by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock worth $183,000 after acquiring an additional 40 shares during the period. Advisor Group Inc. lifted its holdings in shares of J2 Global by 1.7% during the 2nd quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock worth $195,000 after acquiring an additional 43 shares during the period. Parametrica Management Ltd bought a new stake in shares of J2 Global during the 3rd quarter worth approximately $229,000. Finally, BB&T Securities LLC lifted its stake in J2 Global by 8.4% in the 2nd quarter. BB&T Securities LLC now owns 3,184 shares of the technology company’s stock valued at $270,000 after purchasing an additional 246 shares during the last quarter.
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About J2 Global
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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