Ziff Davis (NASDAQ:ZD) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Ziff Davis (NASDAQ:ZD) released its quarterly earnings results on Thursday. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01, Briefing.com reports. Ziff Davis had a return on equity of 12.04% and a net margin of 3.26%.The firm had revenue of $267.64 million for the quarter, compared to analyst estimates of $264.32 million. During the same period in the previous year, the company posted $1.14 EPS. Ziff Davis’s revenue for the quarter was down 1.9% on a year-over-year basis.

Ziff Davis Price Performance

NASDAQ ZD opened at $41.02 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $1.55 billion, a PE ratio of 36.30 and a beta of 1.14. Ziff Davis has a 12 month low of $22.45 and a 12 month high of $50.55. The company’s 50 day simple moving average is $42.48 and its 200 day simple moving average is $37.25.

Hedge Funds Weigh In On Ziff Davis

A number of institutional investors have recently bought and sold shares of ZD. Corient Private Wealth LLC purchased a new position in Ziff Davis during the 4th quarter valued at about $263,000. Freestone Grove Partners LP grew its stake in Ziff Davis by 40.6% during the 4th quarter. Freestone Grove Partners LP now owns 9,222 shares of the technology company’s stock valued at $324,000 after acquiring an additional 2,665 shares in the last quarter. Mangrove Partners IM LLC purchased a new position in Ziff Davis during the 4th quarter valued at about $290,000. Mariner LLC purchased a new position in Ziff Davis during the 4th quarter valued at about $309,000. Finally, Cerity Partners LLC grew its holdings in shares of Ziff Davis by 40.9% during the 4th quarter. Cerity Partners LLC now owns 9,661 shares of the technology company’s stock valued at $340,000 after acquiring an additional 2,804 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays upped their target price on Ziff Davis from $34.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 4th. Citigroup upped their target price on Ziff Davis from $29.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, March 6th. Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Finally, UBS Group cut their target price on shares of Ziff Davis from $38.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ziff Davis presently has a consensus rating of “Hold” and an average price target of $43.00.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.