JMP Securities reiterated their buy rating on shares of j2 Global Inc. (NASDAQ:JCOM) in a research report released on Monday.
A number of other brokerages have also recently commented on JCOM. Citigroup Inc. reiterated a buy rating and set a $73.00 price target on shares of j2 Global in a research report on Wednesday, August 17th. Zacks Investment Research cut shares of j2 Global from a buy rating to a hold rating in a research report on Monday, November 7th. Finally, Robert W. Baird initiated coverage on shares of j2 Global in a research report on Tuesday, August 30th. They set an outperform rating and a $83.00 price target on the stock.
Shares of j2 Global (NASDAQ:JCOM) opened at 75.79 on Monday. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 25.70 and a beta of 1.03. The stock has a 50 day moving average of $69.18 and a 200 day moving average of $66.94. j2 Global has a 1-year low of $55.43 and a 1-year high of $84.15.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The company had revenue of $210.10 million for the quarter, compared to analysts’ expectations of $211.46 million. j2 Global had a net margin of 17.50% and a return on equity of 25.08%. j2 Global’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. Analysts predict that j2 Global will post $4.90 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Friday, November 18th will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, November 16th. This is a positive change from j2 Global’s previous quarterly dividend of $0.35. j2 Global’s dividend payout ratio is 47.97%.
In other news, Director W Brian Kretzmer sold 6,600 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $67.95, for a total transaction of $448,470.00. Following the completion of the sale, the director now owns 14,897 shares of the company’s stock, valued at $1,012,251.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen Ross sold 19,836 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $67.84, for a total value of $1,345,674.24. Following the sale, the director now directly owns 28,107 shares of the company’s stock, valued at approximately $1,906,778.88. The disclosure for this sale can be found here. Insiders own 5.11% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in JCOM. Advisor Group Inc. bought a new stake in j2 Global during the second quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in j2 Global by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,516 shares of the company’s stock worth $101,000 after buying an additional 183 shares during the period. LS Investment Advisors LLC raised its stake in j2 Global by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,799 shares of the company’s stock worth $177,000 after buying an additional 1,188 shares during the period. Tower Research Capital LLC TRC raised its stake in j2 Global by 904.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock worth $194,000 after buying an additional 2,768 shares during the period. Finally, Societe Generale bought a new stake in j2 Global during the second quarter worth $196,000.
About j2 Global