Ziff Davis (NASDAQ:ZD) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Ziff Davis reported quarterly EPS of $0.73, edging past the consensus estimate of $0.72 by $0.01.
• The company posted revenue of $267.64 million, also above expectations, though sales were still down 1.9% from the same quarter last year.
• Shares fell on the news, with ZD trading at $41.02 on Friday, while analyst sentiment remained mixed with a consensus rating of Hold and an average target price of $43.00.

Ziff Davis (NASDAQ:ZD - Get Free Report) released its quarterly earnings data on Thursday. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01, Briefing.com reports. The company had revenue of $267.64 million for the quarter, compared to analysts' expectations of $264.32 million. Ziff Davis had a return on equity of 13.06% and a net margin of 3.26%.Ziff Davis's revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share.

Ziff Davis Stock Performance

Shares of ZD stock traded down $2.29 during trading hours on Friday, reaching $41.02. 1,128,978 shares of the company traded hands, compared to its average volume of 920,790. Ziff Davis has a 12-month low of $22.45 and a 12-month high of $50.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $1.55 billion, a P/E ratio of 37.29 and a beta of 1.14. The firm has a 50-day moving average price of $42.48 and a 200 day moving average price of $37.25.

Analyst Ratings Changes

Several brokerages have issued reports on ZD. Weiss Ratings raised Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. Zacks Research cut Ziff Davis from a "hold" rating to a "strong sell" rating in a research report on Wednesday. UBS Group dropped their target price on Ziff Davis from $38.00 to $30.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Susquehanna raised their target price on Ziff Davis from $45.00 to $60.00 and gave the stock a "positive" rating in a research report on Tuesday. Finally, Citigroup raised their target price on Ziff Davis from $29.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, March 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $43.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in shares of Ziff Davis during the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC lifted its position in shares of Ziff Davis by 568.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,568 shares of the technology company's stock valued at $138,000 after buying an additional 3,885 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Ziff Davis during the 2nd quarter valued at about $145,000. Larson Financial Group LLC lifted its position in shares of Ziff Davis by 1,308.9% during the 3rd quarter. Larson Financial Group LLC now owns 5,241 shares of the technology company's stock valued at $200,000 after buying an additional 4,869 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC lifted its position in shares of Ziff Davis by 26.0% during the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 7,276 shares of the technology company's stock valued at $220,000 after buying an additional 1,503 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis's flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.

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