Switch (SWCH) Set to Announce Quarterly Earnings on Tuesday

Switch (NYSE:SWCHGet Rating) will be announcing its earnings results after the market closes on Tuesday, May 10th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Switch has set its FY 2022 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Switch (NYSE:SWCHGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $161.40 million during the quarter, compared to analyst estimates of $162.40 million. Switch had a return on equity of 3.50% and a net margin of 0.91%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, analysts expect Switch to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NYSE:SWCH opened at $31.00 on Tuesday. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market capitalization of $7.50 billion, a PE ratio of 620.00 and a beta of 0.71. The business has a fifty day moving average of $29.20. Switch has a 12 month low of $17.62 and a 12 month high of $32.78.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 22nd. Shareholders of record on Friday, March 11th were issued a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, March 10th. Switch’s payout ratio is 420.00%.

In other Switch news, Director Thomas A. Thomas sold 40,000 shares of Switch stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $30.73, for a total value of $1,229,200.00. Following the sale, the director now owns 2,658,397 shares of the company’s stock, valued at $81,692,539.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 29.18% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its position in shares of Switch by 164.0% in 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 period. UBS Group AG raised its position in shares of Switch by 1,226.3% in the third quarter. UBS Group AG now owns 44,180 shares of the company’s stock valued at $1,122,000 after purchasing an additional 40,849 shares during the period. Invesco Ltd. raised its position in shares of Switch by 32.1% in the fourth quarter. Invesco Ltd. now owns 251,518 shares of the company’s stock valued at $7,204,000 after purchasing an additional 61,169 shares during the period. LPL Financial LLC raised its position in shares of Switch by 14.9% in the fourth quarter. LPL Financial LLC now owns 60,496 shares of the company’s stock valued at $1,733,000 after purchasing an additional 7,848 shares during the period. Finally, State Street Corp raised its position in shares of Switch by 4.9% in the fourth quarter. State Street Corp now owns 1,703,059 shares of the company’s stock valued at $48,776,000 after purchasing an additional 79,682 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on SWCH shares. Barclays lifted their price objective on shares of Switch from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 14th. Wells Fargo & Company cut shares of Switch from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $28.00 to $31.00 in a report on Friday, March 25th. Zacks Investment Research cut shares of Switch from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st. Credit Suisse Group boosted their price target on shares of Switch from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, April 7th. Finally, TheStreet cut shares of Switch from a “b-” rating to a “c-” rating in a report on Friday, February 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $29.91.

Switch Company Profile (Get Rating)

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services. It develops and operates data centers in Nevada, Michigan, and Georgia. The company serves technology and digital media companies, financial institutions, government agencies, and network and telecommunications providers, as well as cloud, IT, and software providers.

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Earnings History for Switch (NYSE:SWCH)

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