J2 Global (JCOM) Announces Quarterly Earnings Results

J2 Global (NASDAQ:JCOM) issued its quarterly earnings data on Tuesday. The technology company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.07, Bloomberg Earnings reports. J2 Global had a net margin of 10.86% and a return on equity of 26.70%. The business had revenue of $346.10 million during the quarter, compared to analysts’ expectations of $342.12 million. During the same quarter in the previous year, the company earned $1.79 EPS. The business’s revenue was up 9.4% on a year-over-year basis. J2 Global updated its FY 2019 guidance to $6.65-6.95 EPS.

Shares of NASDAQ:JCOM opened at $75.19 on Wednesday. The company has a market capitalization of $3.64 billion, a PE ratio of 13.90, a PEG ratio of 1.58 and a beta of 0.91. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.97. J2 Global has a 12 month low of $65.07 and a 12 month high of $91.58.

JCOM has been the subject of several analyst reports. Wedbush started coverage on shares of J2 Global in a research note on Thursday, October 18th. They issued an “outperform” rating and a $95.00 price objective for the company. BidaskClub upgraded shares of J2 Global from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. ValuEngine cut shares of J2 Global from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Zacks Investment Research restated a “hold” rating on shares of J2 Global in a research report on Tuesday, November 13th. Finally, William Blair restated an “outperform” rating on shares of J2 Global in a research report on Thursday, December 20th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.25.

In other news, CEO Vivek Shah sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $70.24, for a total value of $210,720.00. Following the completion of the transaction, the chief executive officer now directly owns 711,830 shares in the company, valued at approximately $49,998,939.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.97% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Rehmann Capital Advisory Group increased its position in J2 Global by 8,184.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 26,097 shares of the technology company’s stock worth $315,000 after purchasing an additional 25,782 shares in the last quarter. Bessemer Group Inc. increased its position in J2 Global by 18.5% during the 3rd quarter. Bessemer Group Inc. now owns 59,848 shares of the technology company’s stock worth $4,958,000 after purchasing an additional 9,347 shares in the last quarter. Copeland Capital Management LLC increased its position in J2 Global by 18.9% during the 4th quarter. Copeland Capital Management LLC now owns 372,739 shares of the technology company’s stock worth $25,861,000 after purchasing an additional 59,166 shares in the last quarter. Bank of Montreal Can increased its position in J2 Global by 189.0% during the 3rd quarter. Bank of Montreal Can now owns 34,005 shares of the technology company’s stock worth $2,817,000 after purchasing an additional 22,238 shares in the last quarter. Finally, BB&T Corp increased its position in J2 Global by 3.4% during the 4th quarter. BB&T Corp now owns 26,205 shares of the technology company’s stock worth $1,818,000 after purchasing an additional 850 shares in the last quarter. Institutional investors own 99.90% of the company’s stock.

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J2 Global Company Profile

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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Earnings History for J2 Global (NASDAQ:JCOM)

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