j2 Global Inc. (JCOM) Downgraded by Zacks Investment Research
j2 Global Inc. (NASDAQ:JCOM) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a note issued to investors on Tuesday.
According to Zacks, “J2 Global faces risks related to macroeconomic factors such as credit market weakness and high reliability on selected telecommunication carriers in each geographic network. A challenging economic environment might threaten the company’s performance considering it has a vast majority of credit-sensitive customers from lending and mortgage industries and other financial institutions. Additionally a high level of reliance on select telecommunication carriers might pose risks in future if any issues arise related to acquisition of local numbers. Though we are impressed by the company’s acquisition policy, the aforementioned risks continue to remain a concern.”
Several other equities analysts have also issued reports on JCOM. Citigroup Inc. reissued a “buy” rating on shares of j2 Global in a report on Saturday, July 9th. Robert W. Baird assumed coverage on shares of j2 Global in a report on Tuesday, August 30th. They set an “outperform” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. j2 Global presently has a consensus rating of “Buy” and a consensus target price of $85.17.
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Shares of j2 Global (NASDAQ:JCOM) opened at 64.73 on Tuesday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 23.29 and a beta of 1.11. The stock has a 50 day moving average price of $67.28 and a 200 day moving average price of $65.20. j2 Global has a 1-year low of $55.43 and a 1-year high of $84.15.
j2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.06. The company had revenue of $211.80 million for the quarter, compared to analyst estimates of $206.41 million. j2 Global had a net margin of 17.16% and a return on equity of 24.28%. j2 Global’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. Equities research analysts anticipate that j2 Global will post $4.90 EPS for the current year.
In other news, VP Jeremy Rossen sold 1,500 shares of j2 Global stock in a transaction on Friday, August 5th. The shares were sold at an average price of $69.73, for a total transaction of $104,595.00. Following the completion of the sale, the vice president now directly owns 27,222 shares in the company, valued at $1,898,190.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Ross sold 19,836 shares of j2 Global stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $67.84, for a total transaction of $1,345,674.24. Following the sale, the director now owns 28,107 shares of the company’s stock, valued at $1,906,778.88. The disclosure for this sale can be found here. 5.11% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of JCOM. BB&T Securities LLC increased its stake in j2 Global by 1.0% in the second quarter. BB&T Securities LLC now owns 3,436 shares of the company’s stock valued at $217,000 after buying an additional 34 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in j2 Global by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 31,400 shares of the company’s stock valued at $1,984,000 after buying an additional 100 shares during the last quarter. State Treasurer State of Michigan increased its stake in j2 Global by 0.5% in the second quarter. State Treasurer State of Michigan now owns 18,600 shares of the company’s stock valued at $1,175,000 after buying an additional 100 shares during the last quarter. Rhumbline Advisers increased its stake in j2 Global by 0.3% in the second quarter. Rhumbline Advisers now owns 96,350 shares of the company’s stock valued at $6,086,000 after buying an additional 275 shares during the last quarter. Finally, Cardinal Capital Management increased its stake in j2 Global by 4.7% in the second quarter. Cardinal Capital Management now owns 6,557 shares of the company’s stock valued at $414,000 after buying an additional 294 shares during the last quarter.
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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