Brokerages Anticipate Switch Inc (SWCH) Will Announce Earnings of $0.06 Per Share

Brokerages forecast that Switch Inc (NYSE:SWCH) will post earnings per share of $0.06 for the current quarter, according to Zacks. Six analysts have issued estimates for Switch’s earnings, with estimates ranging from $0.05 to $0.07. Switch reported earnings per share of $0.02 during the same quarter last year, which suggests a positive year-over-year growth rate of 200%. The company is scheduled to issue its next earnings results on Monday, August 12th.

According to Zacks, analysts expect that Switch will report full-year earnings of $0.17 per share for the current financial year, with EPS estimates ranging from $0.15 to $0.22. For the next year, analysts expect that the business will report earnings of $0.25 per share, with EPS estimates ranging from $0.18 to $0.31. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Switch.

Switch (NYSE:SWCH) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Switch had a return on equity of 1.27% and a net margin of 0.98%. The firm had revenue of $107.03 million during the quarter, compared to analyst estimates of $105.43 million.

SWCH has been the topic of several research analyst reports. Zacks Investment Research raised shares of Switch from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Friday, May 3rd. BMO Capital Markets reissued a “buy” rating and set a $10.50 target price on shares of Switch in a research note on Tuesday, March 12th. JPMorgan Chase & Co. raised their target price on shares of Switch from $10.00 to $12.00 in a research note on Friday, May 10th. Finally, ValuEngine raised shares of Switch from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $13.45.

In other Switch news, Director Donald D. Snyder sold 300,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.42, for a total transaction of $3,126,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Scott Russell Gragson sold 104,350 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $11.06, for a total transaction of $1,154,111.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 554,350 shares of company stock worth $5,921,819. 28.39% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of SWCH. Teachers Advisors LLC boosted its position in shares of Switch by 20.7% during the 3rd quarter. Teachers Advisors LLC now owns 41,947 shares of the company’s stock valued at $453,000 after purchasing an additional 7,182 shares in the last quarter. Morgan Stanley boosted its position in shares of Switch by 5,470.3% during the 3rd quarter. Morgan Stanley now owns 449,188 shares of the company’s stock valued at $4,852,000 after purchasing an additional 441,124 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Switch by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,466,693 shares of the company’s stock valued at $37,440,000 after purchasing an additional 111,601 shares in the last quarter. Teton Advisors Inc. bought a new position in shares of Switch during the 4th quarter valued at about $266,000. Finally, American Assets Investment Management LLC bought a new position in shares of Switch during the 4th quarter valued at about $350,000. Institutional investors own 20.25% of the company’s stock.

Shares of SWCH stock traded up $0.02 during trading hours on Friday, reaching $12.26. The stock had a trading volume of 22,321 shares, compared to its average volume of 1,035,060. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. Switch has a twelve month low of $6.39 and a twelve month high of $14.37. The stock has a market cap of $3.03 billion, a PE ratio of 136.67, a price-to-earnings-growth ratio of 6.25 and a beta of 0.62.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $0.0294 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.12 annualized dividend and a yield of 0.96%. Switch’s payout ratio is 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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