Switch Inc (NYSE:SWCH) – Investment analysts at William Blair issued their Q1 2019 earnings estimates for shares of Switch in a report released on Wednesday, March 13th. William Blair analyst J. Breen expects that the company will post earnings of $0.04 per share for the quarter. William Blair also issued estimates for Switch’s Q2 2019 earnings at $0.04 EPS, Q3 2019 earnings at $0.04 EPS and Q4 2019 earnings at $0.04 EPS.
Several other brokerages have also commented on SWCH. BMO Capital Markets reissued a “buy” rating and issued a $10.50 price objective on shares of Switch in a report on Tuesday. Berenberg Bank started coverage on Switch in a report on Tuesday, January 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Zacks Investment Research lowered Switch from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Finally, Raymond James raised Switch from a “market perform” rating to a “strong-buy” rating in a research note on Thursday, November 15th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $13.61.
Shares of SWCH opened at $10.66 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.87. Switch has a 12 month low of $6.39 and a 12 month high of $16.23. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 118.44, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.
Switch (NYSE:SWCH) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Switch had a return on equity of 0.55% and a net margin of 1.00%. The company had revenue of $103.21 million for the quarter, compared to analyst estimates of $104.36 million.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Monday, March 25th will be paid a $0.0294 dividend. The ex-dividend date is Friday, March 22nd. This is a positive change from Switch’s previous quarterly dividend of $0.01. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.10%. Switch’s payout ratio is currently 66.67%.
Several large investors have recently modified their holdings of SWCH. Raymond James & Associates acquired a new stake in shares of Switch in the fourth quarter worth approximately $108,000. WealthPLAN Partners LLC acquired a new stake in shares of Switch in the fourth quarter worth approximately $108,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Switch in the fourth quarter worth approximately $131,000. GSA Capital Partners LLP acquired a new stake in shares of Switch in the fourth quarter worth approximately $142,000. Finally, Squarepoint Ops LLC lifted its position in Switch by 30.2% during the fourth quarter. Squarepoint Ops LLC now owns 23,602 shares of the company’s stock worth $165,000 after buying an additional 5,481 shares in the last quarter. 19.43% of the stock is currently owned by hedge funds and other institutional investors.
Switch Company Profile
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.
See Also: Special Dividends
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