S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

Switch, Inc. (NYSE:SWCH) Forecasted to Post FY2022 Earnings of $0.27 Per Share

Last updated on Monday, May 16, 2022 | 2022 MarketBeat

Switch, Inc. (NYSE:SWCH - Get Rating) - Equities research analysts at William Blair boosted their FY2022 earnings estimates for Switch in a research report issued on Wednesday, May 11th. William Blair analyst J. Breen now anticipates that the company will post earnings per share of $0.27 for the year, up from their previous estimate of $0.24. William Blair has a "Market Perform" rating on the stock.

Several other equities analysts have also weighed in on the stock. Cowen lowered shares of Switch from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 11th. Citigroup lowered shares of Switch from a "buy" rating to a "neutral" rating in a report on Thursday. Barclays lowered shares of Switch from an "overweight" rating to an "equal weight" rating in a report on Friday. Wells Fargo & Company lowered shares of Switch from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $28.00 to $31.00 in a report on Friday, March 25th. Finally, Cowen lowered shares of Switch from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $29.91.


Shares of NYSE SWCH opened at $33.47 on Monday. Switch has a 52-week low of $18.24 and a 52-week high of $33.84. The firm has a fifty day moving average of $30.19 and a 200-day moving average of $27.61. The stock has a market capitalization of $8.17 billion, a PE ratio of 836.96 and a beta of 0.71. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.70. Switch (NYSE:SWCH - Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Switch had a net margin of 1.05% and a return on equity of 2.82%. The company had revenue of $164.60 million for the quarter, compared to analysts' expectations of $163.82 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The firm's quarterly revenue was up 25.7% on a year-over-year basis.

Hedge funds have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new stake in Switch during the first quarter valued at approximately $27,000. WD Rutherford LLC lifted its stake in Switch by 575.0% during the first quarter. WD Rutherford LLC now owns 1,350 shares of the company's stock valued at $42,000 after purchasing an additional 1,150 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Switch by 113.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the company's stock valued at $37,000 after purchasing an additional 783 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new stake in Switch during the fourth quarter valued at approximately $43,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Switch during the first quarter valued at approximately $46,000. 51.25% of the stock is owned by institutional investors and hedge funds.

In other news, Director Thomas A. Thomas sold 40,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 2,658,397 shares in the company, valued at $81,692,539.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 29.18% of the company's stock.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 6th. Shareholders of record on Tuesday, May 24th will be given a $0.0525 dividend. This is a boost from Switch's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, May 23rd. This represents a $0.21 annualized dividend and a yield of 0.63%. Switch's dividend payout ratio is 525.13%.

About Switch (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.

Featured Stories

Earnings History and Estimates for Switch (NYSE:SWCH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Switch right now?

Before you consider Switch, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Switch wasn't on the list.

While Switch currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.