Brokerages Expect Switch (SWCH) Will Announce Quarterly Sales of $100.81 Million

Brokerages expect Switch (NYSE:SWCH) to announce sales of $100.81 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Switch’s earnings, with the lowest sales estimate coming in at $100.00 million and the highest estimate coming in at $101.75 million. The company is expected to issue its next quarterly earnings report on Monday, July 2nd.

According to Zacks, analysts expect that Switch will report full-year sales of $100.81 million for the current fiscal year, with estimates ranging from $429.59 million to $434.41 million. For the next fiscal year, analysts forecast that the firm will report sales of $517.52 million per share, with estimates ranging from $509.65 million to $522.57 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Switch.

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Several brokerages have commented on SWCH. Zacks Investment Research cut shares of Switch from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Credit Suisse Group set a $22.00 target price on shares of Switch and gave the company a “buy” rating in a report on Wednesday, January 17th. Cowen assumed coverage on shares of Switch in a report on Friday, January 19th. They issued an “underweight” rating on the stock. BMO Capital Markets dropped their target price on shares of Switch from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 3rd. Finally, Raymond James Financial raised shares of Switch from a “market perform” rating to an “outperform” rating in a report on Monday, March 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Switch presently has an average rating of “Buy” and a consensus target price of $21.33.

Shares of NYSE:SWCH opened at $14.64 on Friday. The company has a debt-to-equity ratio of 5.18, a quick ratio of 0.34 and a current ratio of 0.34. Switch has a one year low of $13.10 and a one year high of $24.90.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 23rd. Stockholders of record on Friday, April 13th will be issued a $0.0147 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.40%.

Several hedge funds have recently modified their holdings of SWCH. Schwab Charles Investment Management Inc. bought a new stake in shares of Switch in the 4th quarter valued at about $1,486,000. FNY Managed Accounts LLC bought a new position in Switch in the 4th quarter valued at about $181,000. Shikiar Asset Management Inc. bought a new position in Switch in the 4th quarter valued at about $1,157,000. American Assets Capital Advisers LLC bought a new position in Switch in the 4th quarter valued at about $720,000. Finally, Engineers Gate Manager LP bought a new position in Switch in the 4th quarter valued at about $2,204,000. 14.07% of the stock is currently owned by institutional investors.

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About Switch

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, government agencies, and telecommunications providers that conduct critical business on the Internet.

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