Citigroup Inc. Initiates Coverage on j2 Global (JCOM)
Research analysts at Citigroup Inc. assumed coverage on shares of j2 Global (NASDAQ:JCOM) in a report released on Monday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of j2 Global (NASDAQ:JCOM) opened at 53.16 on Monday. j2 Global has a one year low of $41.09 and a one year high of $56.24. The stock has a 50-day moving average of $50.62 and a 200-day moving average of $48.98. The company has a market cap of $2.537 billion and a price-to-earnings ratio of 22.75.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.82 by $0.02. The company had revenue of $144.70 million for the quarter, compared to the consensus estimate of $143.40 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that j2 Global will post $3.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, August 14th. This is a boost from j2 Global’s previous quarterly dividend of $0.27.
Separately, analysts at Northland Securities raised their price target on shares of j2 Global from $52.00 to $56.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock.
In other j2 Global news, CEO Nehemia Zucker unloaded 11,467 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $53.57, for a total transaction of $614,287.19. The sale was disclosed in a document filed with the SEC, which is available at this link.
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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