Wall Street analysts forecast that Luxoft Holding Inc (NYSE:LXFT) will announce $232.18 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Luxoft’s earnings. The highest sales estimate is $239.43 million and the lowest is $228.40 million. Luxoft posted sales of $228.03 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 15th.
On average, analysts expect that Luxoft will report full-year sales of $952.24 million for the current fiscal year, with estimates ranging from $943.11 million to $965.60 million. For the next financial year, analysts anticipate that the company will report sales of $1.10 billion, with estimates ranging from $1.06 billion to $1.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Luxoft.
Luxoft (NYSE:LXFT) last released its quarterly earnings results on Wednesday, August 15th. The software maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.28. The company had revenue of $212.79 million for the quarter, compared to analyst estimates of $212.44 million. Luxoft had a return on equity of 15.44% and a net margin of 6.09%. Luxoft’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Luxoft from a “sell” rating to a “hold” rating in a report on Saturday, September 22nd. Credit Suisse Group increased their price objective on Luxoft from $35.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, September 20th. VTB Capital downgraded Luxoft from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Cantor Fitzgerald reiterated a “buy” rating and set a $46.00 price objective on shares of Luxoft in a report on Monday, September 3rd. Finally, KeyCorp increased their price objective on Luxoft from $47.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.11.
A number of hedge funds have recently bought and sold shares of LXFT. Capital Fund Management S.A. bought a new position in Luxoft in the second quarter valued at approximately $291,000. Jane Street Group LLC bought a new position in Luxoft in the second quarter valued at approximately $384,000. Dynamic Technology Lab Private Ltd grew its stake in Luxoft by 75.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 11,204 shares of the software maker’s stock valued at $413,000 after purchasing an additional 4,818 shares in the last quarter. Quantbot Technologies LP grew its stake in Luxoft by 665.6% in the first quarter. Quantbot Technologies LP now owns 10,450 shares of the software maker’s stock valued at $427,000 after purchasing an additional 9,085 shares in the last quarter. Finally, BlueMountain Capital Management LLC grew its stake in Luxoft by 505.9% in the second quarter. BlueMountain Capital Management LLC now owns 15,063 shares of the software maker’s stock valued at $555,000 after purchasing an additional 12,577 shares in the last quarter. Hedge funds and other institutional investors own 53.18% of the company’s stock.
Shares of NYSE:LXFT traded up $0.74 during mid-day trading on Friday, reaching $42.84. 163,487 shares of the stock were exchanged, compared to its average volume of 275,729. The company has a market cap of $1.60 billion, a PE ratio of 20.50 and a beta of 1.74. Luxoft has a one year low of $31.50 and a one year high of $59.05.
Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.
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