J2 Global, Inc. (NASDAQ:JCOM) Expected to Announce Quarterly Sales of $390.07 Million

Wall Street analysts expect that J2 Global, Inc. (NASDAQ:JCOM) will post $390.07 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for J2 Global’s earnings. The highest sales estimate is $397.90 million and the lowest is $379.95 million. J2 Global posted sales of $330.98 million during the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The business is expected to report its next quarterly earnings results on Monday, August 9th.

On average, analysts expect that J2 Global will report full year sales of $1.69 billion for the current year, with estimates ranging from $1.65 billion to $1.70 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.79 billion, with estimates ranging from $1.72 billion to $1.87 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow J2 Global.

J2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Monday, May 10th. The technology company reported $2.18 EPS for the quarter, beating the consensus estimate of $1.57 by $0.61. The firm had revenue of $398.20 million during the quarter, compared to the consensus estimate of $362.11 million. J2 Global had a net margin of 15.11% and a return on equity of 31.85%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share.

A number of brokerages have weighed in on JCOM. Barclays raised their target price on shares of J2 Global from $130.00 to $152.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 21st. JMP Securities raised their target price on shares of J2 Global from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, February 16th. DA Davidson restated a “buy” rating on shares of J2 Global in a research report on Wednesday, May 5th. Piper Sandler reaffirmed a “neutral” rating and set a $139.00 price target (up from $122.00) on shares of J2 Global in a research note on Monday, April 26th. Finally, Wedbush lifted their price target on shares of J2 Global from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $123.17.

In related news, VP Jeremy Rossen sold 4,256 shares of the business’s stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $122.07, for a total transaction of $519,529.92. Following the completion of the transaction, the vice president now owns 10,869 shares in the company, valued at approximately $1,326,778.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas Y. Bech sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $127.98, for a total transaction of $383,940.00. Following the transaction, the director now owns 135,176 shares of the company’s stock, valued at approximately $17,299,824.48. The disclosure for this sale can be found here. Insiders own 5.42% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Partners LLC acquired a new position in J2 Global during the 1st quarter valued at approximately $206,000. Pendal Group Limited acquired a new position in J2 Global during the 1st quarter valued at approximately $350,000. Principal Financial Group Inc. increased its stake in J2 Global by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 224,607 shares of the technology company’s stock valued at $26,922,000 after purchasing an additional 23,559 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in J2 Global by 187.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 19,674 shares of the technology company’s stock valued at $2,358,000 after purchasing an additional 12,838 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in J2 Global during the 1st quarter valued at approximately $297,000.

Shares of NASDAQ:JCOM traded down $0.05 during midday trading on Friday, hitting $127.54. 282,697 shares of the stock traded hands, compared to its average volume of 563,405. The stock has a market cap of $5.75 billion, a PE ratio of 25.27, a PEG ratio of 1.81 and a beta of 1.06. The stock’s 50 day simple moving average is $123.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. J2 Global has a one year low of $53.24 and a one year high of $135.24.

J2 Global Company Profile

J2 Global, Inc provides internet services worldwide. It operates through three segments: Fax and Martech; Voice, Backup, Security, and Consumer Privacy and Protection; and Digital Media. The company offers cloud services, which include cloud fax services under the eFax, sFax, SRFax, MyFax, and eFax Corporate brands; endpoint and email security, and threat intelligence services for real-time malware analysis under the VIPRE brand; Inspired eLearning, a SaaS platform for cybersecurity awareness and compliance training; virtual private network services under the IPVanish and Encrypt.me names; online file backup, synchronization, and sharing services under the SugarSync name; and online backup and sync storage services under the LiveDrive name.

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Earnings History and Estimates for J2 Global (NASDAQ:JCOM)

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