Brokerages expect that Rackspace Technology, Inc. (NASDAQ:RXT – Get Rating) will report earnings per share (EPS) of $0.21 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Rackspace Technology’s earnings, with estimates ranging from $0.20 to $0.22. Rackspace Technology posted earnings per share of $0.23 during the same quarter last year, which would indicate a negative year over year growth rate of 8.7%. The company is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Rackspace Technology will report full year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.82 to $1.04. For the next fiscal year, analysts forecast that the firm will report earnings of $1.13 per share, with EPS estimates ranging from $0.90 to $1.45. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Rackspace Technology.
Rackspace Technology (NASDAQ:RXT – Get Rating) last released its earnings results on Tuesday, February 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. Rackspace Technology had a positive return on equity of 15.14% and a negative net margin of 7.25%. The business had revenue of $777.30 million for the quarter, compared to analyst estimates of $771.22 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in shares of Rackspace Technology by 24.2% in the 3rd quarter. Mackenzie Financial Corp now owns 6,124,231 shares of the company’s stock worth $87,087,000 after purchasing an additional 1,192,801 shares during the last quarter. Legal & General Group Plc grew its position in shares of Rackspace Technology by 42.8% in the 4th quarter. Legal & General Group Plc now owns 2,276,840 shares of the company’s stock worth $30,669,000 after acquiring an additional 681,965 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Rackspace Technology by 31.0% in the 4th quarter. Rice Hall James & Associates LLC now owns 2,508,958 shares of the company’s stock valued at $33,796,000 after acquiring an additional 593,674 shares during the last quarter. ValueAct Holdings L.P. acquired a new stake in shares of Rackspace Technology during the 3rd quarter valued at approximately $5,688,000. Finally, Alberta Investment Management Corp acquired a new position in Rackspace Technology in the third quarter worth $5,546,000. 95.38% of the stock is currently owned by hedge funds and other institutional investors.
Rackspace Technology stock traded up $0.06 during trading hours on Friday, reaching $10.22. 1,112,659 shares of the stock were exchanged, compared to its average volume of 930,094. The stock has a market cap of $2.15 billion, a P/E ratio of -9.73, a P/E/G ratio of 1.10 and a beta of 0.79. The firm’s 50 day moving average is $11.04 and its 200 day moving average is $12.90. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.18 and a current ratio of 1.18. Rackspace Technology has a 52-week low of $7.28 and a 52-week high of $25.93.
Rackspace Technology Company Profile (Get Rating)
Rackspace Technology, Inc operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; and professional services related to designing and building multi cloud solutions and cloud-native applications.
- Get a free copy of the StockNews.com research report on Rackspace Technology (RXT)
- Institutions And Analysts Drive UnitedHealth Group Higher
- MarketBeat: Week in Review 4/11 – 4/15
- Three Beaten Down Mega Caps The Analysts Are Upgrading
- Top 3 Safe Stocks for Conservative Investors
- Array Technologies Stock Giving Another Ground Floor Entry
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rackspace Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rackspace Technology and related companies with MarketBeat.com's FREE daily email newsletter.