Analysts Expect Switch Inc (NYSE:SWCH) Will Post Earnings of $0.05 Per Share

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Equities research analysts predict that Switch Inc (NYSE:SWCH) will report earnings per share of $0.05 for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Switch’s earnings, with estimates ranging from $0.04 to $0.05. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 12th.

On average, analysts expect that Switch will report full year earnings of $0.13 per share for the current financial year, with EPS estimates ranging from $0.11 to $0.13. For the next year, analysts forecast that the business will post earnings of $0.24 per share, with EPS estimates ranging from $0.21 to $0.31. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Switch.

Switch (NYSE:SWCH) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.02). Switch had a net margin of 1.05% and a return on equity of 2.60%. The company had revenue of $111.59 million during the quarter, compared to the consensus estimate of $109.47 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis.

Several analysts recently commented on SWCH shares. JPMorgan Chase & Co. upped their target price on Switch from $10.00 to $12.00 in a report on Friday, May 10th. ValuEngine cut Switch from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Zacks Investment Research cut Switch from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $12.11.

SWCH stock traded up $0.21 during trading on Friday, hitting $16.78. The company had a trading volume of 995,521 shares, compared to its average volume of 1,102,014. The business has a 50-day moving average of $14.76 and a 200-day moving average of $12.15. Switch has a one year low of $6.39 and a one year high of $16.84. The stock has a market cap of $4.01 billion, a PE ratio of 186.44, a PEG ratio of 11.33 and a beta of 0.53. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.87.

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.029 dividend. This represents a $0.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, August 16th. Switch’s payout ratio is presently 133.33%.

In other Switch news, major shareholder William Gonsalves Balelo sold 583,343 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $16.30, for a total transaction of $9,508,490.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.39% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Switch by 34.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,036,875 shares of the company’s stock worth $65,933,000 after buying an additional 1,280,511 shares in the last quarter. American Assets Capital Advisers LLC boosted its holdings in shares of Switch by 7.9% during the 1st quarter. American Assets Capital Advisers LLC now owns 3,202,410 shares of the company’s stock worth $33,017,000 after buying an additional 234,085 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Switch by 56.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,822,400 shares of the company’s stock worth $36,945,000 after buying an additional 1,023,800 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Switch by 82.2% during the 1st quarter. US Bancorp DE now owns 2,590,403 shares of the company’s stock worth $26,707,000 after buying an additional 1,168,572 shares in the last quarter. Finally, Senvest Management LLC boosted its holdings in shares of Switch by 34.9% during the 2nd quarter. Senvest Management LLC now owns 2,202,684 shares of the company’s stock worth $28,833,000 after buying an additional 570,214 shares in the last quarter. Hedge funds and other institutional investors own 22.12% of the company’s stock.

Switch Company Profile

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States. It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the Internet.

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