j2 Global, Inc. (JCOM) Rating Increased to Hold at Zacks Investment Research
j2 Global, Inc. (NASDAQ:JCOM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Shares of j2 Global have outperformed the industry it belongs to in a year. The company's growth-by-acquisition policy holds promise. It completed four acquisitions in the second quarter of 2017, spanning three business units and four countries. We are also impressed by the company's decision to hike its quarterly dividend payout by 2.7%. The company will now pay a dividend of 38.5 cents per share, which marks the 24th successive quarterly dividend hike. However, high costs have been hurting the company for quite some time and the third quarter is no different. 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.”
Other analysts have also recently issued research reports about the company. BidaskClub cut j2 Global from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Citigroup Inc. dropped their price objective on j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, August 7th. ValuEngine lowered j2 Global from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $94.00 price objective on shares of j2 Global in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. j2 Global currently has an average rating of “Hold” and a consensus price target of $101.75.
j2 Global (JCOM) traded up 1.09% during midday trading on Wednesday, reaching $74.97. The company had a trading volume of 158,185 shares. The company has a 50-day moving average of $73.88 and a 200-day moving average of $81.80. j2 Global has a 12-month low of $62.55 and a 12-month high of $91.48. The stock has a market capitalization of $3.62 billion, a PE ratio of 25.12 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.06). The company had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $271.89 million. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. On average, analysts predict that j2 Global will post $5.76 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp raised its position in j2 Global by 14.8% during the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock valued at $121,000 after purchasing an additional 186 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in j2 Global by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock valued at $150,000 after purchasing an additional 241 shares during the period. First Mercantile Trust Co. raised its position in j2 Global by 1.9% during the second quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock valued at $183,000 after purchasing an additional 40 shares during the period. Highbridge Capital Management LLC purchased a new stake in j2 Global during the first quarter valued at approximately $206,000. Finally, Advisor Group Inc. raised its position in j2 Global by 1.7% during the second quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock valued at $195,000 after purchasing an additional 43 shares during the period.
j2 Global Company Profile
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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