Analysts Anticipate Switch Inc (NYSE:SWCH) to Post $0.05 Earnings Per Share

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Brokerages expect that Switch Inc (NYSE:SWCH) will report $0.05 earnings per share for the current quarter, Zacks reports. Five analysts have provided estimates for Switch’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.06. Switch also reported earnings per share of $0.05 during the same quarter last year. The firm is expected to issue its next quarterly earnings results on Tuesday, March 10th.

On average, analysts expect that Switch will report full-year earnings of $0.11 per share for the current year, with EPS estimates ranging from $0.10 to $0.11. For the next fiscal year, analysts forecast that the company will report earnings of $0.26 per share, with EPS estimates ranging from $0.21 to $0.31. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Switch.

Switch (NYSE:SWCH) last posted its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $117.60 million during the quarter, compared to analysts’ expectations of $113.22 million. Switch had a net margin of 1.48% and a return on equity of 3.35%. Switch’s revenue was up 14.4% compared to the same quarter last year.

Several brokerages have recently issued reports on SWCH. BMO Capital Markets upped their target price on shares of Switch from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. ValuEngine cut Switch from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded Switch from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Credit Suisse Group set a $18.00 price objective on Switch and gave the company a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.80.

In other news, Director Thomas A. Thomas sold 60,000 shares of Switch stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.46, for a total transaction of $927,600.00. Also, Director Thomas A. Thomas sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.50, for a total transaction of $435,000.00. Insiders have sold a total of 307,933 shares of company stock worth $4,834,356 over the last quarter. 28.39% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SWCH. Coastal Investment Advisors Inc. increased its position in shares of Switch by 19.6% during the third quarter. Coastal Investment Advisors Inc. now owns 6,535 shares of the company’s stock worth $104,000 after acquiring an additional 1,071 shares during the period. Metropolitan Life Insurance Co NY increased its holdings in Switch by 56.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,320 shares of the company’s stock worth $67,000 after purchasing an additional 1,553 shares during the period. California State Teachers Retirement System raised its position in Switch by 1.8% during the 3rd quarter. California State Teachers Retirement System now owns 94,964 shares of the company’s stock valued at $1,483,000 after purchasing an additional 1,657 shares in the last quarter. NEXT Financial Group Inc bought a new stake in Switch during the 3rd quarter valued at $35,000. Finally, WealthPLAN Partners LLC raised its position in Switch by 5.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 54,870 shares of the company’s stock valued at $842,000 after purchasing an additional 2,822 shares in the last quarter. Institutional investors own 23.77% of the company’s stock.

SWCH stock opened at $15.51 on Friday. Switch has a 52 week low of $6.39 and a 52 week high of $16.95. The firm has a market capitalization of $3.81 billion, a P/E ratio of 172.33, a price-to-earnings-growth ratio of 7.80 and a beta of 0.54. The company has a fifty day simple moving average of $15.20 and a two-hundred day simple moving average of $14.50. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.98.

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a dividend of $0.0294 per share. The ex-dividend date was Monday, November 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. Switch’s dividend payout ratio is presently 133.33%.

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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