Ziff Davis (NASDAQ:ZD) Issues FY 2024 Earnings Guidance

Ziff Davis (NASDAQ:ZD) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.430-6.770 for the period, compared to the consensus EPS estimate of 6.600. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Ziff Davis also updated its FY24 guidance to $6.43-6.77 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZD. Citigroup cut their price objective on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Barclays lowered their target price on Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Ziff Davis in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.50.

Ziff Davis Trading Up 15.6 %

Shares of ZD stock traded up $7.66 during trading hours on Friday, reaching $56.65. The company’s stock had a trading volume of 1,380,366 shares, compared to its average volume of 381,991. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.54. Ziff Davis has a one year low of $37.76 and a one year high of $70.90. The stock has a market capitalization of $2.53 billion, a P/E ratio of 34.97 and a beta of 1.29. The firm’s fifty day simple moving average is $47.60 and its 200 day simple moving average is $49.93.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.08). The firm had revenue of $320.80 million for the quarter, compared to the consensus estimate of $332.44 million. Ziff Davis had a net margin of 5.86% and a return on equity of 13.81%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Equities research analysts expect that Ziff Davis will post 6.1 EPS for the current year.

Ziff Davis Company Profile

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.