Switch (NYSE:SWCH) has earned an average rating of “Hold” from the thirteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.00.
A number of brokerages have commented on SWCH. Credit Suisse Group set a $22.00 price target on Switch and gave the stock a “buy” rating in a research note on Wednesday, February 7th. UBS upgraded Switch from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. Raymond James upgraded Switch from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. BMO Capital Markets cut their price target on Switch from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Switch in a research note on Thursday, April 5th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SWCH. Northern Trust Corp lifted its position in shares of Switch by 2.9% during the 1st quarter. Northern Trust Corp now owns 143,847 shares of the company’s stock valued at $2,289,000 after acquiring an additional 4,035 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Switch during the 4th quarter valued at $121,000. FNY Managed Accounts LLC acquired a new stake in shares of Switch during the 4th quarter valued at $181,000. Jane Street Group LLC acquired a new stake in shares of Switch during the 4th quarter valued at $195,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Switch during the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 13.65% of the company’s stock.
Switch (NYSE:SWCH) last announced its quarterly earnings data on Monday, May 14th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $97.70 million during the quarter, compared to analyst estimates of $99.79 million. During the same period in the prior year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. research analysts predict that Switch will post 0.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Tuesday, May 29th will be given a dividend of $0.0147 per share. The ex-dividend date is Friday, May 25th. This represents a $0.06 annualized dividend and a dividend yield of 0.46%.
Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers that conduct critical business on the Internet. The company develops and operates data centers in Nevada, Michigan, and Georgia.
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