BidaskClub lowered shares of J2 Global (NASDAQ:JCOM) from a hold rating to a sell rating in a report released on Tuesday.
Several other equities research analysts also recently issued reports on the company. ValuEngine downgraded J2 Global from a hold rating to a sell rating in a report on Tuesday. Wedbush began coverage on J2 Global in a report on Thursday, October 18th. They set an outperform rating and a $95.00 price target for the company. Citigroup cut their price target on J2 Global from $88.00 to $86.00 and set a neutral rating for the company in a report on Monday, August 13th. Finally, Robert W. Baird reaffirmed a buy rating and set a $92.00 price target on shares of J2 Global in a report on Monday, August 13th. Two research analysts have 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 currently has an average rating of Hold and an average target price of $93.25.
Shares of J2 Global stock opened at $74.27 on Tuesday. J2 Global has a 1 year low of $69.09 and a 1 year high of $91.58. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.94. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.17 and a quick ratio of 2.17.
J2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Monday, November 5th. The technology company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.12. J2 Global had a return on equity of 26.81% and a net margin of 10.86%. The business had revenue of $292.72 million during the quarter, compared to the consensus estimate of $295.19 million. On average, sell-side analysts forecast that J2 Global will post 5.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.435 per share. This is an increase from J2 Global’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.74 annualized dividend and a yield of 2.34%. J2 Global’s dividend payout ratio (DPR) is currently 31.42%.
In other news, VP Jeremy Rossen sold 2,457 shares of J2 Global stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $81.17, for a total transaction of $199,434.69. Following the completion of the sale, the vice president now owns 30,715 shares of the company’s stock, valued at $2,493,136.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vivek Shah sold 3,000 shares of J2 Global stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $81.43, for a total value of $244,290.00. Following the sale, the chief executive officer now directly owns 723,830 shares of the company’s stock, valued at approximately $58,941,476.90. The disclosure for this sale can be found here. Insiders have sold a total of 12,509 shares of company stock valued at $996,327 in the last ninety days. Insiders own 5.15% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of J2 Global by 6.7% during the second quarter. Public Employees Retirement System of Ohio now owns 55,627 shares of the technology company’s stock worth $4,818,000 after buying an additional 3,482 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in shares of J2 Global by 2.5% during the second quarter. MetLife Investment Advisors LLC now owns 52,164 shares of the technology company’s stock worth $4,518,000 after buying an additional 1,275 shares in the last quarter. World Asset Management Inc acquired a new stake in shares of J2 Global during the second quarter worth $208,000. Itau Unibanco Holding S.A. acquired a new stake in shares of J2 Global during the second quarter worth $194,000. Finally, Martingale Asset Management L P lifted its holdings in shares of J2 Global by 1.7% during the second quarter. Martingale Asset Management L P now owns 70,415 shares of the technology company’s stock worth $6,099,000 after buying an additional 1,201 shares in the last quarter. 99.90% of the stock is owned by institutional investors.
About J2 Global
j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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