Zacks Investment Research lowered shares of j2 Global, Inc. (NASDAQ:JCOM) from a hold rating to a sell rating in a research note released on Wednesday, August 9th.
According to Zacks, “Shares of j2 Global have underperformed the industry it belongs to in the last six months. Adding to its woes, the company performed disappointingly in the second quarter of 2017, reporting lower-than-expected earnings per share as well as revenues. Higher operating expenses hurt results in the quarter. We are also concerned about the company's high exposure to economic downturn as it has a vast majority of credit-sensitive customers. We are also cautious about the company's high debt levels. The company's growth-by-acquisition policy, however, holds promise. We are also impressed by the company's decision to hike its dividend payout while releasing second quarter results.”
A number of other brokerages have also recently commented on JCOM. Susquehanna Bancshares Inc reiterated a positive rating and issued a $120.00 price target (up previously from $95.00) on shares of j2 Global in a research note on Tuesday, May 9th. BidaskClub raised shares of j2 Global from a hold rating to a buy rating in a research report on Saturday, June 24th. Finally, Citigroup Inc. dropped their price objective on shares of j2 Global from $89.00 to $88.00 and set a neutral rating on the stock in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $100.00.
Shares of j2 Global (NASDAQ:JCOM) traded up 0.46% during trading on Wednesday, reaching $73.63. The company had a trading volume of 459,672 shares. The stock has a 50 day moving average of $81.37 and a 200 day moving average of $84.11. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 24.67 and a beta of 0.94. j2 Global has a 52-week low of $62.55 and a 52-week high of $91.48.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.06. The firm had revenue of $273.20 million during the quarter, compared to analyst estimates of $271.89 million. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. Equities research analysts forecast that j2 Global will post $5.76 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 2.09%. This is a positive change from j2 Global’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, August 10th. j2 Global’s dividend payout ratio (DPR) is currently 51.68%.
In other j2 Global news, Director Douglas Y. Bech sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $85.86, for a total value of $1,287,900.00. Following the transaction, the director now directly owns 123,966 shares of the company’s stock, valued at approximately $10,643,720.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director W Brian Kretzmer sold 1,336 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $86.20, for a total transaction of $115,163.20. Following the completion of the transaction, the director now directly owns 11,607 shares in the company, valued at $1,000,523.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,664 shares of company stock worth $1,688,040. 5.15% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in j2 Global by 19.9% in the second quarter. FMR LLC now owns 6,055,030 shares of the technology company’s stock worth $515,222,000 after buying an additional 1,004,664 shares during the last quarter. BlackRock Inc. increased its stake in j2 Global by 21,973.5% in the first quarter. BlackRock Inc. now owns 4,838,726 shares of the technology company’s stock worth $406,018,000 after buying an additional 4,816,805 shares during the last quarter. Vanguard Group Inc. increased its stake in j2 Global by 3.3% in the second quarter. Vanguard Group Inc. now owns 3,904,633 shares of the technology company’s stock worth $332,246,000 after buying an additional 123,030 shares during the last quarter. William Blair Investment Management LLC increased its stake in j2 Global by 20.0% in the second quarter. William Blair Investment Management LLC now owns 3,114,743 shares of the technology company’s stock worth $265,033,000 after buying an additional 518,998 shares during the last quarter. Finally, State Street Corp increased its stake in j2 Global by 4.5% in the second quarter. State Street Corp now owns 1,675,239 shares of the technology company’s stock worth $142,548,000 after buying an additional 71,785 shares during the last quarter.
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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