J2 Global’s (JCOM) “Buy” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their buy rating on shares of J2 Global (NASDAQ:JCOM) in a research report report published on Tuesday. Wedbush currently has a $95.00 price objective on the technology company’s stock. Wedbush also issued estimates for J2 Global’s Q4 2018 earnings at $1.87 EPS and FY2018 earnings at $5.77 EPS.

Several other analysts also recently commented on JCOM. BidaskClub downgraded J2 Global from a strong-buy rating to a buy rating in a research note on Saturday, July 14th. Citigroup reduced their target price on J2 Global from $88.00 to $86.00 and set a neutral rating for the company in a research note on Monday, August 13th. Robert W. Baird restated a buy rating and issued a $92.00 target price on shares of J2 Global in a research note on Monday, August 13th. Finally, ValuEngine downgraded J2 Global from a hold rating to a sell rating in a research note on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. J2 Global presently has an average rating of Hold and a consensus target price of $93.25.

NASDAQ:JCOM traded down $0.28 during trading hours on Tuesday, hitting $74.27. 276,312 shares of the company were exchanged, compared to its average volume of 445,306. The firm has a market cap of $3.75 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.64 and a beta of 0.94. The company has a quick ratio of 2.17, a current ratio of 1.75 and a debt-to-equity ratio of 0.97. J2 Global has a one year low of $69.09 and a one year high of $91.58.

J2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Monday, November 5th. The technology company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.12. J2 Global had a return on equity of 26.70% and a net margin of 10.86%. The firm had revenue of $292.72 million during the quarter, compared to analyst estimates of $295.19 million. As a group, equities research analysts expect that J2 Global will post 5.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Monday, November 19th will be paid a $0.435 dividend. The ex-dividend date is Friday, November 16th. This is an increase from J2 Global’s previous quarterly dividend of $0.43. This represents a $1.74 annualized dividend and a dividend yield of 2.34%. J2 Global’s dividend payout ratio (DPR) is currently 31.42%.

In other J2 Global news, CEO Vivek Shah sold 3,000 shares of J2 Global stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $81.43, for a total transaction of $244,290.00. Following the completion of the transaction, the chief executive officer now owns 723,830 shares in the company, valued at approximately $58,941,476.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeremy Rossen sold 2,457 shares of J2 Global stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $81.17, for a total value of $199,434.69. Following the transaction, the vice president now owns 30,715 shares of the company’s stock, valued at approximately $2,493,136.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,509 shares of company stock valued at $996,327. 5.15% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in J2 Global by 6.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,627 shares of the technology company’s stock valued at $4,818,000 after purchasing an additional 3,482 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in shares of J2 Global by 2.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 52,164 shares of the technology company’s stock worth $4,518,000 after buying an additional 1,275 shares in the last quarter. World Asset Management Inc bought a new position in shares of J2 Global during the 2nd quarter worth approximately $208,000. Itau Unibanco Holding S.A. bought a new position in shares of J2 Global during the 2nd quarter worth approximately $194,000. Finally, Martingale Asset Management L P lifted its position in shares of J2 Global by 1.7% during the 2nd quarter. Martingale Asset Management L P now owns 70,415 shares of the technology company’s stock worth $6,099,000 after buying an additional 1,201 shares in the last quarter. Institutional investors and hedge funds own 99.90% of the company’s stock.

About J2 Global

j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

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