j2 Global Shares Up 6.3% After Strong Earnings (JCOM)
j2 Global (NASDAQ:JCOM) shot up 6.3% during mid-day trading on Friday after the company announced better than expected quarterly earnings, AnalystRatings.NET reports. The company traded as high as $47.47 and last traded at $46.41, with a volume of 364,659 shares trading hands. The stock had previously closed at $43.67.
The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.04. The company had revenue of $134.12 million for the quarter, compared to the consensus estimate of $132.06 million. During the same quarter last year, the company posted $0.58 earnings per share. j2 Global’s revenue was up 18.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, May 15th.
A number of research firms have recently commented on JCOM. Analysts at Sidoti upgraded shares of j2 Global from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 16th. Analysts at Zacks upgraded shares of j2 Global from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 11th. They now have a $61.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.00.
The stock’s 50-day moving average is $47.79 and its 200-day moving average is $48.44. The company has a market cap of $2.200 billion and a price-to-earnings ratio of 19.15.
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.
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