J2 Global Inc (NASDAQ:JCOM) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.455 per share by the technology company on Tuesday, June 4th. This represents a $1.82 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from J2 Global’s previous quarterly dividend of $0.45.
J2 Global has increased its dividend payment by an average of 11.4% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. J2 Global has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect J2 Global to earn $6.57 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 27.1%.
JCOM opened at $88.99 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.50 and a current ratio of 1.30. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.70 and a beta of 0.88. J2 Global has a twelve month low of $65.07 and a twelve month high of $91.58.
In related news, Director W Brian Kretzmer sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $84.17, for a total transaction of $505,020.00. Following the sale, the director now owns 12,764 shares of the company’s stock, valued at approximately $1,074,345.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas Y. Bech sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $83.26, for a total transaction of $832,600.00. Following the sale, the director now directly owns 106,401 shares in the company, valued at approximately $8,858,947.26. The disclosure for this sale can be found here. In the last three months, insiders sold 67,863 shares of company stock worth $5,742,930. Insiders own 5.90% of the company’s stock.
Several research firms have recently issued reports on JCOM. Zacks Investment Research raised shares of J2 Global from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Wednesday, April 17th. Wedbush boosted their price target on shares of J2 Global from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday. BidaskClub lowered shares of J2 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Citigroup boosted their price target on shares of J2 Global from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Finally, DA Davidson set a $110.00 price target on shares of J2 Global and gave the company a “buy” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. J2 Global presently has a consensus rating of “Buy” and an average target price of $100.20.
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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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