j2 Global (NASDAQ:JCOM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “j2 Global's top line has been benefitting from growth across all its segments. The company's efforts to reward shareholders through dividend payments is impressive. It recently hiked its quarterly dividend payout by 2.6%. This is the 25th such dividend hike. The company's growth-by-acquisition policy also holds promise. However, high costs from investments have been hurting j2 Global for quite some time. Such high costs have the potential to limit bottom line growth in future as well. We are also cautious about the company's high debt levels. Shares of j2 Global have underperformed its industry in the last six months.”
A number of other brokerages also recently weighed in on JCOM. BidaskClub downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. ValuEngine upgraded shares of j2 Global from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $94.00 price target on shares of j2 Global in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. j2 Global currently has a consensus rating of “Hold” and a consensus target price of $101.75.
j2 Global (NASDAQ:JCOM) last released its earnings results on Thursday, November 2nd. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.02). j2 Global had a net margin of 12.60% and a return on equity of 26.43%. The business had revenue of $273.60 million for the quarter, compared to analyst estimates of $272.84 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. equities research analysts anticipate that j2 Global will post 5.35 earnings per share for the current year.
In related news, VP Jeremy Rossen sold 2,514 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $74.05, for a total transaction of $186,161.70. Following the completion of the sale, the vice president now directly owns 26,372 shares of the company’s stock, valued at approximately $1,952,846.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.15% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in j2 Global by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock worth $150,000 after purchasing an additional 241 shares in the last quarter. First Mercantile Trust Co. grew its stake in shares of j2 Global by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock worth $183,000 after acquiring an additional 40 shares in the last quarter. Advisor Group Inc. grew its stake in shares of j2 Global by 1.7% during the 2nd quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock worth $195,000 after acquiring an additional 43 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of j2 Global during the 3rd quarter worth approximately $229,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of j2 Global during the 3rd quarter worth approximately $250,000.
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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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