Zacks Investment Research upgraded shares of J2 Global (NASDAQ:JCOM) from a sell rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “j2 Global reported impressive fourth-quarter 2018 results. The company witnessed year over year increase in earnings and revenues, primarily driven by robust performance of the digital media business segment. Further, j2 Global’s effort to strengthen its speedtest intelligence service is expected to drive subscription revenues. Additionally, the company continues to reward shareholders through dividend payment, which makes the stock attractive. However, higher costs pertaining to the company’s acquisitions are expected to hurt bottom line. We are also concerned about the j2 Global's high debt level. Moreover, declining revenues from backup business along with significant pricing pressure in the display market are headwinds. Weakness in Voice platform coupled with an unfavourable FX impact can adversely affect j2 Global’s top-line in the near term.”
Other research analysts also recently issued research reports about the company. BidaskClub upgraded J2 Global from a sell rating to a hold rating in a research note on Saturday, December 15th. Citigroup upped their price objective on J2 Global from $84.00 to $86.00 and gave the company a neutral rating in a research note on Thursday, February 14th. ValuEngine upgraded J2 Global from a sell rating to a hold rating in a research note on Thursday, December 13th. William Blair restated an outperform rating on shares of J2 Global in a research note on Thursday, December 20th. Finally, Wedbush restated a buy rating and issued a $95.00 price objective on shares of J2 Global in a research note on Tuesday, November 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. J2 Global currently has an average rating of Buy and an average target price of $93.25.
NASDAQ:JCOM traded up $0.45 during trading on Wednesday, reaching $85.46. The company’s stock had a trading volume of 282,756 shares, compared to its average volume of 448,565. The company has a market capitalization of $4.26 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.50 and a quick ratio of 1.75. J2 Global has a 12 month low of $65.07 and a 12 month high of $91.58.
J2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Tuesday, February 12th. The technology company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The firm had revenue of $346.10 million during the quarter, compared to the consensus estimate of $342.12 million. J2 Global had a return on equity of 28.12% and a net margin of 10.66%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 EPS. Sell-side analysts anticipate that J2 Global will post 6.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Monday, February 25th will be paid a dividend of $0.445 per share. This is an increase from J2 Global’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $1.78 annualized dividend and a dividend yield of 2.08%. J2 Global’s dividend payout ratio is presently 29.39%.
In other news, CEO Vivek Shah sold 3,000 shares of the stock in a transaction on Monday, December 17th. The stock was sold at an average price of $70.24, for a total transaction of $210,720.00. Following the completion of the transaction, the chief executive officer now owns 711,830 shares in the company, valued at approximately $49,998,939.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Ross sold 33,398 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $85.41, for a total value of $2,852,523.18. Following the transaction, the director now owns 34,297 shares of the company’s stock, valued at approximately $2,929,306.77. The disclosure for this sale can be found here. Insiders have sold a total of 64,863 shares of company stock valued at $5,448,630 in the last quarter. 5.97% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of J2 Global by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 908,821 shares of the technology company’s stock valued at $63,055,000 after acquiring an additional 235,849 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of J2 Global by 111.4% in the 4th quarter. APG Asset Management N.V. now owns 22,200 shares of the technology company’s stock valued at $1,347,000 after acquiring an additional 11,700 shares in the last quarter. Amalgamated Bank raised its holdings in shares of J2 Global by 126.2% in the 4th quarter. Amalgamated Bank now owns 7,321 shares of the technology company’s stock valued at $508,000 after acquiring an additional 4,085 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of J2 Global by 8.6% in the 4th quarter. Macquarie Group Ltd. now owns 1,277,790 shares of the technology company’s stock valued at $88,653,000 after acquiring an additional 100,689 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of J2 Global by 8.2% in the 4th quarter. Legal & General Group Plc now owns 51,664 shares of the technology company’s stock valued at $3,585,000 after acquiring an additional 3,894 shares in the last quarter. Institutional investors own 99.90% of the company’s stock.
J2 Global Company Profile
j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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