Media headlines about Switch (NYSE:SWCH) have been trending neutral recently, InfoTrie Sentiment reports. InfoTrie rates the sentiment of media coverage by monitoring more than 6,000 blog and news sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Switch earned a news impact score of 0.33 on their scale. InfoTrie also gave news coverage about the company an news buzz score of 0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have effected Switch’s score:
- How to use the Nintendo Switch Parental Controls app – Android Authority (androidauthority.com)
- 2K wants more on Nintendo Switch after BioShock, Borderlands, XCOM 2 collections – Yahoo Tech (finance.yahoo.com)
- 2K Says It’s Eager To Release More Games On The Nintendo Switch – Nintendo Life (nintendolife.com)
- PlatinumGames Gives Nintendo Switch Fans Much-Needed Bayonetta 3 Update – ComicBook.com (comicbook.com)
- Urban Flow Gets The Green Light For A June Release On Switch – Nintendo Life (nintendolife.com)
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Switch from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday. Wells Fargo & Co raised their price objective on Switch from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Citigroup raised their price objective on Switch from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Raymond James lifted their price target on Switch from $19.00 to $22.00 and gave the company a “strong-buy” rating in a report on Monday, May 11th. Finally, ValuEngine upgraded Switch from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $20.38.
Switch (NYSE:SWCH) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The business had revenue of $128.10 million during the quarter, compared to the consensus estimate of $123.52 million. Switch had a return on equity of 3.16% and a net margin of 1.27%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. As a group, analysts anticipate that Switch will post 0.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 22nd will be paid a $0.0294 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.62%. This is a positive change from Switch’s previous quarterly dividend of $0.03. Switch’s payout ratio is currently 80.00%.
In related news, major shareholder Lp Borden sold 50,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $13.59, for a total transaction of $679,500.00. Following the completion of the transaction, the insider now directly owns 5,549,998 shares in the company, valued at $75,424,472.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Melissa Young sold 54,778 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.11, for a total value of $827,695.58. Following the transaction, the insider now owns 120,907 shares of the company’s stock, valued at $1,826,904.77. The disclosure for this sale can be found here. Insiders have sold 440,576 shares of company stock worth $6,120,930 in the last ninety days. 28.39% of the stock is currently owned by insiders.
Switch Company Profile
Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States. It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the Internet.
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