$276.12 Million in Sales Expected for j2 Global, Inc. (JCOM) This Quarter
Wall Street analysts expect j2 Global, Inc. (NASDAQ:JCOM) to report $276.12 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for j2 Global’s earnings. The lowest sales estimate is $275.54 million and the highest is $276.70 million. j2 Global reported sales of $210.12 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.4%. The firm is expected to issue its next earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that j2 Global will report full year sales of $276.12 million for the current year. For the next financial year, analysts anticipate that the company will report sales of $1.21 billion per share, with estimates ranging from $1.16 billion to $1.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for j2 Global.
j2 Global (NASDAQ:JCOM) last issued its earnings results on Thursday, August 3rd. The technology company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.06). The company had revenue of $273.20 million during the quarter, compared to analyst estimates of $271.89 million. j2 Global had a return on equity of 26.62% and a net margin of 14.74%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share.
JCOM has been the subject of a number of recent analyst reports. BidaskClub cut shares of j2 Global from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of j2 Global from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Citigroup Inc. lowered their price objective on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, August 7th. ValuEngine upgraded shares of j2 Global from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Finally, Robert W. Baird restated a “buy” rating and issued a $94.00 price objective on shares of j2 Global in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $101.75.
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A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of j2 Global by 19.9% in the 2nd quarter. FMR LLC now owns 6,055,030 shares of the technology company’s stock valued at $515,222,000 after acquiring an additional 1,004,664 shares in the last quarter. BlackRock Inc. grew its holdings in shares of j2 Global by 21,973.5% in the 1st quarter. BlackRock Inc. now owns 4,838,726 shares of the technology company’s stock valued at $406,018,000 after acquiring an additional 4,816,805 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of j2 Global by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,904,633 shares of the technology company’s stock valued at $332,246,000 after acquiring an additional 123,030 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of j2 Global by 20.0% in the 2nd quarter. William Blair Investment Management LLC now owns 3,114,743 shares of the technology company’s stock valued at $265,033,000 after acquiring an additional 518,998 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of j2 Global by 4.5% in the 2nd quarter. State Street Corp now owns 1,675,239 shares of the technology company’s stock valued at $142,548,000 after acquiring an additional 71,785 shares in the last quarter.
Shares of j2 Global (NASDAQ:JCOM) traded up 0.22% on Tuesday, hitting $74.16. The stock had a trading volume of 169,715 shares. The company has a market capitalization of $3.58 billion, a P/E ratio of 24.84 and a beta of 0.94. The firm has a 50 day moving average price of $74.74 and a 200 day moving average price of $81.13. j2 Global has a one year low of $64.74 and a one year high of $91.48.
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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