J2 Global Inc (NASDAQ:JCOM) Expected to Post Quarterly Sales of $318.47 Million

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Equities research analysts expect that J2 Global Inc (NASDAQ:JCOM) will announce $318.47 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for J2 Global’s earnings, with the lowest sales estimate coming in at $312.10 million and the highest estimate coming in at $325.46 million. J2 Global reported sales of $287.89 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.6%. The company is expected to issue its next earnings results on Thursday, August 8th.

On average, analysts expect that J2 Global will report full year sales of $1.34 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.35 billion. For the next year, analysts forecast that the company will report sales of $1.45 billion, with estimates ranging from $1.41 billion to $1.49 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow J2 Global.

J2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.14. The business had revenue of $299.90 million for the quarter, compared to the consensus estimate of $296.12 million. J2 Global had a net margin of 11.60% and a return on equity of 28.93%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS.

A number of analysts have recently weighed in on the stock. Wedbush upped their target price on shares of J2 Global from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. DA Davidson set a $110.00 target price on shares of J2 Global and gave the stock a “buy” rating in a research report on Monday, April 22nd. Zacks Investment Research raised shares of J2 Global from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Wednesday, April 17th. Finally, Citigroup upped their target price on shares of J2 Global from $86.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. J2 Global has a consensus rating of “Buy” and an average target price of $100.20.

J2 Global stock traded up $0.76 during mid-day trading on Wednesday, reaching $87.68. 10,621 shares of the company traded hands, compared to its average volume of 336,130. The company has a market cap of $4.20 billion, a P/E ratio of 14.67, a PEG ratio of 1.61 and a beta of 0.86. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.01. J2 Global has a 52-week low of $65.07 and a 52-week high of $91.58.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.82 annualized dividend and a yield of 2.08%. This is a boost from J2 Global’s previous quarterly dividend of $0.45. J2 Global’s dividend payout ratio is currently 30.74%.

In related news, insider Steve P. Dunn sold 3,263 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $87.00, for a total value of $283,881.00. Following the completion of the sale, the insider now directly owns 19,544 shares of the company’s stock, valued at approximately $1,700,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeremy Rossen sold 2,213 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $86.30, for a total transaction of $190,981.90. Following the completion of the sale, the vice president now directly owns 36,440 shares of the company’s stock, valued at $3,144,772. The disclosure for this sale can be found here. Insiders have sold a total of 21,102 shares of company stock valued at $1,830,912 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. AlphaCrest Capital Management LLC purchased a new stake in J2 Global in the 4th quarter worth approximately $319,000. Seizert Capital Partners LLC purchased a new stake in J2 Global in the 1st quarter worth approximately $1,305,000. Municipal Employees Retirement System of Michigan purchased a new stake in J2 Global in the 4th quarter worth approximately $780,000. Martingale Asset Management L P increased its holdings in J2 Global by 12.5% in the 1st quarter. Martingale Asset Management L P now owns 110,038 shares of the technology company’s stock worth $9,531,000 after acquiring an additional 12,200 shares in the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new stake in J2 Global in the 1st quarter worth approximately $208,000. 99.90% of the stock is owned by institutional investors.

About J2 Global

j2 Global, Inc, together with its subsidiaries, provides Internet services worldwide. It operates through three segments: Fax and Email Marketing; Voice, Backup, and Security; and Digital Media. The company offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

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