Switch Inc (SWCH) Expected to Announce Earnings of -$0.22 Per Share

Wall Street analysts predict that Switch Inc (NYSE:SWCH) will post earnings of ($0.22) per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Switch’s earnings. The lowest EPS estimate is ($0.24) and the highest is ($0.21). The business is expected to report its next quarterly earnings results on Monday, February 12th.

According to Zacks, analysts expect that Switch will report full year earnings of $0.02 per share for the current financial year, with EPS estimates ranging from ($0.01) to $0.04. For the next fiscal year, analysts anticipate that the company will report earnings of $0.24 per share, with EPS estimates ranging from $0.20 to $0.36. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Switch.

Switch (NYSE:SWCH) last posted its quarterly earnings data on Monday, November 13th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $97.70 million during the quarter, compared to the consensus estimate of $95.81 million. The company’s revenue was up 19.6% compared to the same quarter last year.

A number of equities research analysts recently weighed in on SWCH shares. Zacks Investment Research raised Switch from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, January 5th. Credit Suisse Group set a $22.00 target price on Switch and gave the stock a “buy” rating in a research report on Saturday, December 16th. BTIG Research started coverage on Switch in a research report on Tuesday, October 31st. They set a “buy” rating and a $22.00 target price on the stock. Jefferies Group started coverage on Switch in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Finally, Wells Fargo & Co started coverage on Switch in a research report on Tuesday, October 31st. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.83.

Switch (NYSE SWCH) opened at $16.70 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.18. Switch has a 12 month low of $15.77 and a 12 month high of $24.90.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWCH. FNY Managed Accounts LLC acquired a new stake in Switch during the fourth quarter valued at approximately $181,000. Shikiar Asset Management Inc. acquired a new stake in Switch during the fourth quarter valued at approximately $1,157,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Switch during the fourth quarter valued at approximately $1,486,000. 0.16% of the stock is currently owned by institutional investors.

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About Switch

Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.

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