j2 Global Given Outperform Rating at Zacks (JCOM)
j2 Global (NASDAQ:JCOM)‘s stock had its “outperform” rating reaffirmed by Zacks in a research report issued to clients and investors on Friday. They currently have a $57.00 price objective on the stock. Zacks‘s price target points to a potential upside of 20.38% from the stock’s previous close.
Zacks’ analyst wrote, “j2 Global reported first-quarter 2014 financial results wherein the bottom line significantly surpassed the Zacks Consensus Estimate while the top line was in line with the same. Record revenue growth, low churn rate, high EBITDA and free cash flow are likely to act as tailwinds going forward. The improved performance can primarily be attributed to the company’s diversification into cloud business, installation of a media business and initiation of the intellectual property program. j2 Global provided a strong financial outlook for 2014. We believe that the company’s strong financial position will allow it to pursue acquisitions and its diversified pipeline will help foster growth. Hence, we maintain our Outperform recommendation on j2 Global.”
Shares of j2 Global (NASDAQ:JCOM) traded down 0.68% on Friday, hitting $47.03. 115,270 shares of the company’s stock traded hands. j2 Global has a 1-year low of $40.11 and a 1-year high of $56.24. The stock has a 50-day moving average of $47.07 and a 200-day moving average of $47.79. The company has a market cap of $2.236 billion and a price-to-earnings ratio of 19.82.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Analysts expect that j2 Global will post $3.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from j2 Global’s previous quarterly dividend of $0.26.
Separately, analysts at Sidoti upgraded shares of j2 Global from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. j2 Global currently has an average rating of “Buy” and a consensus target price of $54.00.
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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