Brokerages Expect j2 Global, Inc. (JCOM) Will Announce Quarterly Sales of $278.35 Million
Equities analysts expect j2 Global, Inc. (NASDAQ:JCOM) to report $278.35 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for j2 Global’s earnings. The highest sales estimate is $280.00 million and the lowest is $276.70 million. j2 Global posted sales of $210.12 million in the same quarter last year, which suggests a positive year over year growth rate of 32.5%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that j2 Global will report full year sales of $278.35 million for the current fiscal year, with estimates ranging from $1.14 billion to $1.15 billion. For the next fiscal year, analysts expect that the business will report sales of $1.22 billion per share, with estimates ranging from $1.20 billion to $1.25 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover j2 Global.
j2 Global (NASDAQ:JCOM) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.06). j2 Global had a return on equity of 26.62% and a net margin of 14.74%. The firm had revenue of $273.20 million during the quarter, compared to analyst estimates of $271.89 million. During the same quarter in the previous year, the business earned $1.21 earnings per share. The business’s quarterly revenue was up 29.0% compared to the same quarter last year.
A number of analysts have recently commented on JCOM shares. Robert W. Baird reaffirmed a “buy” rating and issued a $94.00 price target on shares of j2 Global in a research note on Friday, September 1st. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Citigroup Inc. lowered their price target on j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, August 7th. ValuEngine cut j2 Global from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut j2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. j2 Global currently has an average rating of “Hold” and a consensus price target of $101.75.
Several hedge funds have recently made changes to their positions in JCOM. UBS Asset Management Americas Inc. grew its position in shares of j2 Global by 25.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 24,882 shares of the technology company’s stock valued at $2,088,000 after purchasing an additional 5,015 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of j2 Global by 8.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 103,638 shares of the technology company’s stock valued at $8,696,000 after purchasing an additional 8,222 shares during the period. Envestnet Asset Management Inc. grew its position in shares of j2 Global by 14.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,274 shares of the technology company’s stock valued at $861,000 after purchasing an additional 1,298 shares during the period. SG Americas Securities LLC grew its position in shares of j2 Global by 136.2% in the 1st quarter. SG Americas Securities LLC now owns 10,546 shares of the technology company’s stock valued at $885,000 after purchasing an additional 6,081 shares during the period. Finally, Arizona State Retirement System grew its position in shares of j2 Global by 8.1% in the 1st quarter. Arizona State Retirement System now owns 20,000 shares of the technology company’s stock valued at $1,678,000 after purchasing an additional 1,496 shares during the period.
j2 Global (NASDAQ JCOM) opened at 73.97 on Thursday. The firm has a market capitalization of $3.58 billion, a PE ratio of 24.78 and a beta of 0.94. j2 Global has a one year low of $62.55 and a one year high of $91.48. The firm has a 50 day moving average of $73.92 and a 200 day moving average of $81.86.
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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