Internet Initiative Japan (IIJI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Internet Initiative Japan (NASDAQ:IIJI) from a buy rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Internet Initiative Japan Inc. offers a comprehensive range of Internet access services and Internet-related services to customers, including corporations and other Internet service providers, in Japan. The company offers its services via one of the largest Internet network backbones in Japan as well as between Japan and the United States. (PRESS RELEASE) “

NASDAQ IIJI opened at $11.88 on Tuesday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.95 and a beta of 0.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.50. Internet Initiative Japan has a 1-year low of $8.76 and a 1-year high of $12.43.

Internet Initiative Japan (NASDAQ:IIJI) last released its quarterly earnings results on Tuesday, November 6th. The communications equipment provider reported $0.07 earnings per share for the quarter. The business had revenue of $414.98 million during the quarter, compared to analysts’ expectations of $415.22 million. Internet Initiative Japan had a return on equity of 6.26% and a net margin of 3.05%. As a group, research analysts forecast that Internet Initiative Japan will post 0.45 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers purchased a new position in Internet Initiative Japan during the 3rd quarter valued at approximately $107,000. Jane Street Group LLC purchased a new position in Internet Initiative Japan during the 2nd quarter valued at approximately $147,000. Finally, Renaissance Technologies LLC grew its holdings in Internet Initiative Japan by 3.2% during the 3rd quarter. Renaissance Technologies LLC now owns 415,315 shares of the communications equipment provider’s stock valued at $4,191,000 after buying an additional 12,715 shares in the last quarter. Institutional investors and hedge funds own 0.51% of the company’s stock.

About Internet Initiative Japan

Internet Initiative Japan Inc offers Internet connectivity, WAN, outsourcing, systems integration, and equipment sales services in Japan. It operates in two segments, Network Services and Systems Integration Business, and ATM Operation Business. The company's Internet connectivity services for enterprise include IP services and IIJ data center connectivity services, IIJ FiberAccess/F and IIJ DSL/F services, IIJ mobile services, and dial-up access services, as well as other Internet connectivity services comprising IIJ ISDN/F and IIJ line management/F services.

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