Equities analysts expect Switch Inc (NYSE:SWCH) to post earnings per share of $0.05 for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Switch’s earnings. The highest EPS estimate is $0.05 and the lowest is $0.04. The company is expected to announce its next earnings results on Tuesday, November 12th.
On average, analysts expect that Switch will report full-year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.11 to $0.15. For the next year, analysts forecast that the company will report earnings of $0.23 per share, with EPS estimates ranging from $0.18 to $0.31. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Switch.
Switch (NYSE:SWCH) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $111.59 million for the quarter, compared to analysts’ expectations of $109.47 million. Switch had a net margin of 1.05% and a return on equity of 2.59%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 earnings per share.
A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Switch from $10.00 to $12.00 in a research note on Friday, May 10th. Zacks Investment Research downgraded Switch from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine downgraded Switch from a “buy” rating to a “hold” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Switch has a consensus rating of “Buy” and a consensus target price of $12.11.
Shares of Switch stock traded down $0.25 on Thursday, reaching $15.13. The company’s stock had a trading volume of 89,702 shares, compared to its average volume of 886,633. The firm has a market capitalization of $3.80 billion, a P/E ratio of 168.56, a P/E/G ratio of 10.24 and a beta of 0.68. Switch has a 52-week low of $6.39 and a 52-week high of $15.56. The business has a 50-day simple moving average of $13.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 1.47.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be given a $0.029 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. Switch’s dividend payout ratio (DPR) is presently 133.33%.
In related news, major shareholder William Gonsalves Balelo sold 27,276 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $12.97, for a total value of $353,769.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.39% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd lifted its position in Switch by 82.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 9,529 shares of the company’s stock worth $125,000 after acquiring an additional 4,311 shares during the period. Coastal Investment Advisors Inc. lifted its position in Switch by 446.4% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 5,464 shares of the company’s stock worth $72,000 after acquiring an additional 4,464 shares during the period. Squarepoint Ops LLC lifted its position in Switch by 30.2% during the 4th quarter. Squarepoint Ops LLC now owns 23,602 shares of the company’s stock worth $165,000 after acquiring an additional 5,481 shares during the period. BNP Paribas Arbitrage SA lifted its position in Switch by 328.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,121 shares of the company’s stock worth $94,000 after acquiring an additional 6,993 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Switch by 185.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,357 shares of the company’s stock worth $149,000 after acquiring an additional 7,379 shares during the period. 21.06% of the stock is owned by institutional investors.
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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