J2 Global (JCOM) Shares Up 8.9% After Strong Earnings

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Shares of J2 Global Inc (NASDAQ:JCOM) shot up 8.9% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $83.40 and last traded at $81.88. 1,543,553 shares were traded during mid-day trading, an increase of 320% from the average session volume of 367,818 shares. The stock had previously closed at $75.19.

The technology company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $346.10 million during the quarter, compared to analysts’ expectations of $342.12 million. J2 Global had a net margin of 10.86% and a return on equity of 26.70%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.79 EPS.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Monday, February 25th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from J2 Global’s previous quarterly dividend of $0.44. J2 Global’s dividend payout ratio (DPR) is 32.16%.

A number of brokerages recently issued reports on JCOM. BidaskClub cut shares of J2 Global from a “buy” rating to a “hold” rating in a research report on Wednesday. William Blair restated an “outperform” rating on shares of J2 Global in a research report on Thursday, December 20th. ValuEngine upgraded shares of J2 Global from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. Zacks Investment Research restated a “hold” rating on shares of J2 Global in a research report on Tuesday, November 13th. Finally, Wedbush restated a “buy” rating and issued a $95.00 price objective on shares of J2 Global in a research report on Tuesday, November 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $93.25.

In other J2 Global news, CEO Vivek Shah sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 711,830 shares in the company, valued at approximately $49,998,939.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.97% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Portolan Capital Management LLC acquired a new stake in J2 Global in the 4th quarter valued at about $4,583,000. Geode Capital Management LLC increased its position in J2 Global by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 566,652 shares of the technology company’s stock valued at $39,314,000 after acquiring an additional 43,571 shares in the last quarter. Fort L.P. boosted its stake in shares of J2 Global by 91.4% in the 4th quarter. Fort L.P. now owns 21,086 shares of the technology company’s stock valued at $1,463,000 after purchasing an additional 10,071 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of J2 Global by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 73,436 shares of the technology company’s stock valued at $5,095,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of J2 Global by 37.2% in the 4th quarter. Brown Advisory Inc. now owns 15,323 shares of the technology company’s stock valued at $1,063,000 after purchasing an additional 4,154 shares during the last quarter. Hedge funds and other institutional investors own 99.90% of the company’s stock.

The company has a market cap of $3.64 billion, a PE ratio of 15.13, a PEG ratio of 1.58 and a beta of 0.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.75 and a current ratio of 1.75.

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J2 Global Company Profile (NASDAQ:JCOM)

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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