Switch, Inc. (NYSE:SWCH – Get Rating) has earned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.00.
Several research analysts have issued reports on the company. Citigroup lowered Switch from a “buy” rating to a “neutral” rating in a research report on Thursday, May 12th. Raymond James lowered Switch from a “strong-buy” rating to a “market perform” rating in a research report on Monday, May 16th. TheStreet lowered Switch from a “b-” rating to a “c-” rating in a research report on Friday, February 25th. Cowen lowered Switch from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 11th. Finally, Cowen lowered Switch from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 11th.
In related news, Director Thomas A. Thomas sold 40,000 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $33.46, for a total transaction of $1,338,400.00. Following the completion of the transaction, the director now owns 3,118,397 shares in the company, valued at approximately $104,341,563.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.18% of the company’s stock.
Shares of SWCH stock opened at $33.25 on Monday. Switch has a 12-month low of $18.39 and a 12-month high of $33.84. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.83. The stock’s 50-day moving average price is $30.84 and its 200-day moving average price is $27.87. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 831.46 and a beta of 0.71.
Switch (NYSE:SWCH – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $164.60 million during the quarter, compared to analysts’ expectations of $163.82 million. Switch had a return on equity of 2.81% and a net margin of 1.05%. The company’s revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 EPS. As a group, research analysts predict that Switch will post 0.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 6th. Stockholders of record on Tuesday, May 24th will be paid a dividend of $0.0525 per share. This is a positive change from Switch’s previous quarterly dividend of $0.05. This represents a $0.21 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, May 23rd. Switch’s dividend payout ratio is presently 525.13%.
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.
- Get a free copy of the StockNews.com research report on Switch (SWCH)
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