Cyxtera Technologies, Inc. (NASDAQ:CYXT) Expected to Post Quarterly Sales of $183.67 Million

Wall Street brokerages forecast that Cyxtera Technologies, Inc. (NASDAQ:CYXT – Get Rating) will announce $183.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cyxtera Technologies’ earnings. The highest sales estimate is $184.60 million and the lowest is $182.70 million. The firm is scheduled to report its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Cyxtera Technologies will report full year sales of $744.90 million for the current financial year, with estimates ranging from $742.80 million to $747.50 million. For the next fiscal year, analysts anticipate that the business will report sales of $783.80 million, with estimates ranging from $774.60 million to $793.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Cyxtera Technologies.

Cyxtera Technologies (NASDAQ:CYXT – Get Rating) last released its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.03. The firm had revenue of $178.40 million during the quarter, compared to the consensus estimate of $178.71 million. The business’s quarterly revenue was up 3.3% compared to the same quarter last year.

Several research analysts have commented on the stock. Raymond James lifted their price target on shares of Cyxtera Technologies from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 23rd. Zacks Investment Research downgraded shares of Cyxtera Technologies from a “hold” rating to a “sell” rating in a research note on Monday, March 28th. William Blair reaffirmed an “outperform” rating on shares of Cyxtera Technologies in a research note on Friday, January 28th. Royal Bank of Canada lifted their target price on shares of Cyxtera Technologies from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 30th. Finally, Credit Suisse Group began coverage on shares of Cyxtera Technologies in a research note on Thursday, April 7th. They issued an “outperform” rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $13.83.

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new position in Cyxtera Technologies in the third quarter valued at about $92,000. People s United Financial Inc. purchased a new stake in Cyxtera Technologies in the third quarter valued at approximately $100,000. Penserra Capital Management LLC purchased a new stake in Cyxtera Technologies in the third quarter valued at approximately $103,000. Morgan Stanley acquired a new position in Cyxtera Technologies in the third quarter valued at approximately $110,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Cyxtera Technologies during the 3rd quarter worth approximately $121,000.

Shares of Cyxtera Technologies stock opened at $12.07 on Monday. Cyxtera Technologies has a 1 year low of $7.51 and a 1 year high of $13.88. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 3.03. The company has a 50 day simple moving average of $12.21 and a two-hundred day simple moving average of $11.46.

Cyxtera Technologies Company Profile (Get Rating)

Cyxtera Technologies, Inc provides various data center products and services for enterprises, service providers, and government agencies. It offers retail colocation, interconnection, deployment, and support services; and Bare Metal, an on-demand IT infrastructure solution. The company is headquartered in Coral Gables, Florida.

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