j2 Global, Inc. (JCOM) Expected to Post Quarterly Sales of $273.41 Million
Wall Street brokerages expect j2 Global, Inc. (NASDAQ:JCOM) to post sales of $273.41 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for j2 Global’s earnings. The lowest sales estimate is $272.20 million and the highest is $274.62 million. j2 Global reported sales of $211.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 29.1%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that j2 Global will report full-year sales of $273.41 million for the current year, with estimates ranging from $1.13 billion to $1.15 billion. For the next year, analysts anticipate that the company will post sales of $1.22 billion per share, with estimates ranging from $1.20 billion to $1.24 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover j2 Global.
j2 Global (NASDAQ:JCOM) last released its earnings results on Monday, May 8th. The technology company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by $0.07. The firm had revenue of $254.70 million for the quarter, compared to the consensus estimate of $258.15 million. j2 Global had a return on equity of 26.41% and a net margin of 15.98%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS.
Several research firms have recently commented on JCOM. BidaskClub downgraded shares of j2 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded shares of j2 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and set a $120.00 target price (up from $95.00) on shares of j2 Global in a research report on Tuesday, May 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. j2 Global has an average rating of “Buy” and an average target price of $97.00.
Shares of j2 Global (JCOM) traded down 1.00% during mid-day trading on Friday, hitting $83.37. The company had a trading volume of 300,553 shares. The firm’s 50 day moving average is $86.04 and its 200-day moving average is $84.91. The firm has a market cap of $4.02 billion, a PE ratio of 27.45 and a beta of 0.95. j2 Global has a 12-month low of $62.55 and a 12-month high of $91.48.
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In related news, Director Douglas Y. Bech sold 15,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $85.86, for a total transaction of $1,287,900.00. Following the transaction, the director now directly owns 123,966 shares in the company, valued at $10,643,720.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert J. Cresci sold 9,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $88.67, for a total transaction of $798,030.00. Following the transaction, the director now owns 84,569 shares in the company, valued at $7,498,733.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,758 shares of company stock worth $2,583,053. 5.15% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in j2 Global during the fourth quarter valued at $303,000. Charter Trust Co. boosted its position in j2 Global by 76.9% in the first quarter. Charter Trust Co. now owns 5,929 shares of the technology company’s stock valued at $497,000 after buying an additional 2,578 shares during the period. Bank of Montreal Can boosted its position in j2 Global by 18.7% in the first quarter. Bank of Montreal Can now owns 85,574 shares of the technology company’s stock valued at $7,180,000 after buying an additional 13,500 shares during the period. Capstone Asset Management Co. boosted its position in j2 Global by 6.0% in the first quarter. Capstone Asset Management Co. now owns 3,703 shares of the technology company’s stock valued at $311,000 after buying an additional 210 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in j2 Global during the first quarter valued at $285,000.
About j2 Global
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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