Ziff Davis (NASDAQ:ZD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Ziff Davis reported quarterly earnings of $1.24 EPS, beating estimates of $1.22 EPS, and generated $352.21 million in revenue, which surpassed the consensus estimate of $337.47 million.
• Despite the positive earnings results, Ziff Davis shares fell 2.7% to $36.68, with a year range for the stock between $28.55 and $60.62.
• Analysts have mixed views on Ziff Davis, with multiple target price adjustments; Citigroup reduced its target from $52.00 to $35.00, and the consensus rating is currently "Hold" with an average price target of $48.00.

Ziff Davis (NASDAQ:ZD - Get Free Report) posted its quarterly earnings results on Wednesday. The technology company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02, Briefing.com reports. The firm had revenue of $352.21 million for the quarter, compared to the consensus estimate of $337.47 million. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $1.18 earnings per share.

Ziff Davis Trading Down 2.7%

Shares of ZD traded down $1.01 during trading on Friday, reaching $36.68. 1,175,086 shares of the company traded hands, compared to its average volume of 608,077. Ziff Davis has a twelve month low of $28.55 and a twelve month high of $60.62. The stock has a market cap of $1.54 billion, a PE ratio of 24.45 and a beta of 1.63. The stock has a 50-day simple moving average of $32.07 and a 200-day simple moving average of $37.04. The company has a quick ratio of 1.52, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ziff Davis stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,656 shares of the technology company's stock after acquiring an additional 3,696 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.38% of Ziff Davis worth $6,037,000 as of its most recent SEC filing. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZD has been the topic of several research reports. Citigroup decreased their price target on shares of Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. UBS Group set a $40.00 target price on shares of Ziff Davis and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Barclays lifted their target price on shares of Ziff Davis from $34.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday. Susquehanna reduced their target price on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded shares of Ziff Davis from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Ziff Davis has a consensus rating of "Hold" and an average price target of $48.00.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.