j2 Global, Inc. (NASDAQ:JCOM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
According to Zacks, “Shares of j2 Global have underperformed its industry in the last six months. The stock lost 11.9% as compared to the industry, which gained 17% over the same period. High costs from investments have been hurting j2 Global for quite some time. This is likely to hurt the bottom line in the third quarter quarter. The Zacks Consensus Estimate for the third quarter has been revised downward to the tune of 4.2% in the last 90 days. Detailed results will be out on Nov 2. We are also concerned about the company's high exposure to economic downturn as it has a vast majority of credit-sensitive customers. We are also cautious about the company's high debt levels. However, the company's growth-by-acquisition policy holds promise. We are also impressed by the company's decision announced in August 2017 to hike its quarterly dividend payout by 2.7%. “
Several other equities analysts have also weighed in on JCOM. BidaskClub lowered shares of j2 Global from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. ValuEngine raised shares of j2 Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Citigroup Inc. reduced 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 note on Monday, August 7th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $94.00 price objective on shares of j2 Global in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. j2 Global currently has a consensus rating of “Hold” and an average price target of $101.75.
j2 Global (JCOM) opened at 74.52 on Friday. The firm’s 50-day moving average is $74.76 and its 200-day moving average is $81.19. The firm has a market cap of $3.60 billion, a PE ratio of 24.96 and a beta of 0.94. j2 Global has a 12 month low of $66.58 and a 12 month high of $91.48.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.06). j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The business had revenue of $273.20 million for the quarter, compared to the consensus estimate of $271.89 million. During the same quarter last year, the business posted $1.21 EPS. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. Equities analysts expect that j2 Global will post $5.75 earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of JCOM. Fifth Third Bancorp lifted its stake in j2 Global by 14.8% during the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock valued at $121,000 after buying an additional 186 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in j2 Global by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock valued at $150,000 after buying an additional 241 shares in the last quarter. First Mercantile Trust Co. lifted its stake in j2 Global by 1.9% during the second quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock valued at $183,000 after buying an additional 40 shares in the last quarter. Advisor Group Inc. lifted its stake in j2 Global by 1.7% during the second quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock valued at $195,000 after buying an additional 43 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in j2 Global during the first quarter valued at about $206,000.
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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