Ziff Davis (NASDAQ:ZD) Releases FY24 Earnings Guidance

Ziff Davis (NASDAQ:ZD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.43-6.77 for the period, compared to the consensus estimate of $6.63. The company issued revenue guidance of $1.411-1.471 billion, compared to the consensus revenue estimate of $1.42 billion. Ziff Davis also updated its FY 2024 guidance to 6.430-6.770 EPS.

Ziff Davis Price Performance

Shares of ZD traded down $0.98 during midday trading on Thursday, hitting $48.99. The company’s stock had a trading volume of 475,443 shares, compared to its average volume of 430,815. Ziff Davis has a one year low of $37.76 and a one year high of $70.90. The company’s fifty day simple moving average is $47.42 and its two-hundred day simple moving average is $49.92. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 30.85 and a beta of 1.29.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.08). Ziff Davis had a net margin of 5.86% and a return on equity of 13.81%. The business had revenue of $320.80 million during the quarter, compared to the consensus estimate of $332.44 million. During the same quarter in the previous year, the business posted $1.12 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts expect that Ziff Davis will post 6.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZD has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Ziff Davis in a research report on Friday, September 6th. Barclays reduced their price objective on Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Citigroup reduced their price objective on Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.50.

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.