Brokerages Expect j2 Global, Inc. (NASDAQ:JCOM) Will Post Earnings of $1.32 Per Share
Wall Street brokerages expect that j2 Global, Inc. (NASDAQ:JCOM) will report earnings per share (EPS) of $1.32 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for j2 Global’s earnings. The lowest EPS estimate is $1.30 and the highest is $1.34. j2 Global reported earnings per share of $1.19 in the same quarter last year, which indicates a positive year over year growth rate of 10.9%. The company is expected to announce its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that j2 Global will report full-year earnings of $5.57 per share for the current financial year, with EPS estimates ranging from $5.53 to $5.60. For the next fiscal year, analysts expect that the business will post earnings of $6.01 per share, with EPS estimates ranging from $5.86 to $6.16. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for j2 Global.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.06. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The firm had revenue of $273.20 million for the quarter, compared to the consensus estimate of $271.89 million. During the same period in the previous year, the company posted $1.21 earnings per share. j2 Global’s quarterly revenue was up 29.0% on a year-over-year basis.
A number of research firms have recently weighed in on JCOM. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $120.00 price objective (up previously from $95.00) on shares of j2 Global in a research report on Tuesday, May 9th. Zacks Investment Research lowered j2 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Citigroup Inc. cut their price objective on j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $100.00.
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In other news, Director Robert J. Cresci sold 9,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $88.67, for a total transaction of $798,030.00. Following the sale, the director now owns 84,569 shares of the company’s stock, valued at $7,498,733.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas Y. Bech sold 15,000 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $85.86, for a total value of $1,287,900.00. Following the sale, the director now directly owns 123,966 shares in the company, valued at approximately $10,643,720.76. The disclosure for this sale can be found here. Insiders have sold 29,758 shares of company stock worth $2,583,053 in the last ninety days. Corporate insiders own 5.15% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised 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. Horizon Investment Services LLC raised its position in j2 Global by 146.7% in the first quarter. Horizon Investment Services LLC now owns 17,401 shares of the technology company’s stock valued at $1,460,000 after buying an additional 10,347 shares during the period. American International Group Inc. raised its position in j2 Global by 4.4% in the first quarter. American International Group Inc. now owns 123,532 shares of the technology company’s stock valued at $10,366,000 after buying an additional 5,212 shares during the period. Alliancebernstein L.P. raised its position in j2 Global by 52.3% in the first quarter. Alliancebernstein L.P. now owns 131,219 shares of the technology company’s stock valued at $11,011,000 after buying an additional 45,040 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in j2 Global during the first quarter valued at approximately $6,579,000.
Shares of j2 Global (NASDAQ:JCOM) traded up 0.05% during trading on Tuesday, reaching $76.98. The company had a trading volume of 410,027 shares. The company has a market capitalization of $3.71 billion, a PE ratio of 25.35 and a beta of 0.94. j2 Global has a 52 week low of $62.55 and a 52 week high of $91.48. The stock’s 50-day moving average price is $85.70 and its 200-day moving average price is $84.96.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a dividend of $0.385 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from j2 Global’s previous quarterly dividend of $0.38. j2 Global’s dividend payout ratio is currently 50.34%.
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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