Wall Street analysts expect that Switch, Inc. (NYSE:SWCH) will announce sales of $163.12 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Switch’s earnings. The lowest sales estimate is $161.84 million and the highest is $165.70 million. Switch posted sales of $127.75 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.7%. The business is scheduled to issue its next earnings report on Monday, March 7th.
On average, analysts expect that Switch will report full-year sales of $593.25 million for the current fiscal year, with estimates ranging from $592.50 million to $594.52 million. For the next financial year, analysts anticipate that the company will post sales of $683.41 million, with estimates ranging from $672.95 million to $696.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Switch.
Switch (NYSE:SWCH) last announced its quarterly earnings data on Thursday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $158.10 million during the quarter, compared to analysts’ expectations of $159.58 million. Switch had a net margin of 3.95% and a return on equity of 3.90%. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS.
SWCH stock traded up $0.44 during trading on Thursday, hitting $27.02. 3,595,179 shares of the company’s stock were exchanged, compared to its average volume of 2,202,926. The firm’s 50-day moving average price is $25.63. The firm has a market capitalization of $6.54 billion, a PE ratio of 158.94 and a beta of 0.69. Switch has a 52-week low of $13.38 and a 52-week high of $27.87. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.52 and a quick ratio of 0.83.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Friday, November 19th will be given a dividend of $0.052 per share. The ex-dividend date is Thursday, November 18th. This represents a $0.21 annualized dividend and a yield of 0.77%. Switch’s dividend payout ratio (DPR) is presently 123.53%.
In other news, insider Teresa A. Borden sold 30,000 shares of the stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $27.17, for a total value of $815,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rob Roy sold 119,092 shares of the stock in a transaction dated Tuesday, September 21st. The shares were sold at an average price of $25.98, for a total value of $3,094,010.16. The disclosure for this sale can be found here. Insiders have sold 1,639,055 shares of company stock worth $41,635,259 over the last quarter. 29.18% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SWCH. Moody Aldrich Partners LLC boosted its position in shares of Switch by 23.7% in the second quarter. Moody Aldrich Partners LLC now owns 463,301 shares of the company’s stock worth $9,780,000 after buying an additional 88,841 shares during the period. Glenmede Trust Co. NA boosted its position in Switch by 30.7% during the second quarter. Glenmede Trust Co. NA now owns 64,281 shares of the company’s stock valued at $1,356,000 after purchasing an additional 15,094 shares during the last quarter. Morgan Stanley boosted its position in Switch by 164.0% during the second quarter. Morgan Stanley now owns 1,060,396 shares of the company’s stock valued at $22,384,000 after purchasing an additional 658,801 shares during the last quarter. California State Teachers Retirement System raised its holdings in Switch by 12.5% during the first quarter. California State Teachers Retirement System now owns 158,163 shares of the company’s stock valued at $2,572,000 after buying an additional 17,540 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Switch in the second quarter worth about $1,849,000. Institutional investors and hedge funds own 47.07% of the company’s stock.
Switch Company Profile
Switch, Inc (Nevada) engages in the provision of technology infrastructure. It specializes in the development of digital platforms for digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers. The firm’s products include Switch CONNECT and Switch SAFE.
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