j2 Global, Inc. (JCOM) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of j2 Global, Inc. (NASDAQ:JCOM) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
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.”
A number of other equities analysts have also recently commented on JCOM. BidaskClub cut j2 Global from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. ValuEngine cut j2 Global from a buy rating to a hold rating in a research note on Friday, September 1st. Citigroup Inc. decreased their price target on j2 Global from $89.00 to $88.00 and set a neutral rating on the stock in a research note on Monday, August 7th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $94.00 price target on shares of j2 Global in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $101.75.
j2 Global (NASDAQ JCOM) traded up 0.26% during mid-day trading on Wednesday, reaching $74.16. 590,739 shares of the company’s stock were exchanged. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 24.84 and a beta of 0.94. The stock has a 50-day moving average of $73.92 and a 200-day moving average of $81.86. j2 Global has a one year low of $62.55 and a one year 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 the Zacks’ consensus estimate of $1.31 by ($0.06). The company had revenue of $273.20 million during the quarter, compared to analysts’ expectations of $271.89 million. j2 Global had a return on equity of 26.62% and a net margin of 14.74%. j2 Global’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. On average, equities research analysts anticipate that j2 Global will post $5.76 earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. Eqis Capital Management Inc. purchased a new position in shares of j2 Global during the third quarter valued at approximately $298,000. Colony Group LLC purchased a new position in shares of j2 Global during the second quarter valued at approximately $2,129,000. Koch Industries Inc. increased its stake in shares of j2 Global by 15,945.3% during the second quarter. Koch Industries Inc. now owns 835,159 shares of the technology company’s stock valued at $825,000 after buying an additional 829,954 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of j2 Global by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 18,502 shares of the technology company’s stock valued at $1,574,000 after buying an additional 331 shares during the period. Finally, Americafirst Capital Management LLC purchased a new position in shares of j2 Global during the second quarter valued at approximately $1,408,000.
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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