Headlines about Switch (NYSE:SWCH) have trended somewhat positive on Monday, InfoTrie Sentiment Analysis reports. InfoTrie identifies negative and positive media coverage by analyzing more than 6,000 blog and news sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Switch earned a media sentiment score of 0.80 on their scale. InfoTrie also assigned press coverage about the company an news buzz score of 0 out of 10, indicating that recent media coverage is extremely unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the headlines that may have impacted Switch’s ranking:
- The TakeOver review for Nintendo Switch | Nostalgic beatdown – NintendoEnthusiast (nintendoenthusiast.com)
- There are too many cars in Azerbaijan. It is essential to switch to bikes. – Politheor: European Policy Network (politheor.net)
- Best Buy Gaming Sale: Nintendo Switch, PS4 & Xbox One – Digital Trends (digitaltrends.com)
- West Of Dead Brings More Twin-Stick Shooter Action To Switch This August – Nintendo Life (nintendolife.com)
- New Blood Interactive: ‘DUSK’ Coming to the Switch, New Games ‘ULTRAKILL’ and ‘GLOOMWOOD’ Announced – Bloody Disgusting (bloody-disgusting.com)
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Switch from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Stifel Nicolaus upped their price objective on shares of Switch from $17.50 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Zacks Investment Research raised shares of Switch from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, May 22nd. BMO Capital Markets upped their price objective on shares of Switch from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Wells Fargo & Co upped their price objective on shares of Switch from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, May 11th. 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’s stock. Switch has a consensus rating of “Buy” and an average price target of $20.38.
Switch (NYSE:SWCH) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The business had revenue of $128.10 million for the quarter, compared to analyst estimates of $123.52 million. Switch had a return on equity of 3.16% and a net margin of 1.27%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. On average, sell-side analysts predict that Switch will post 0.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 22nd were issued a $0.0294 dividend. This is a boost from Switch’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, May 21st. This represents a $0.12 annualized dividend and a yield of 0.69%. Switch’s dividend payout ratio (DPR) is 80.00%.
In other Switch news, Director Thomas A. Thomas sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $13.95, for a total transaction of $418,500.00. Following the sale, the director now owns 8,250,000 shares of the company’s stock, valued at $115,087,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Michael David Borden sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the sale, the insider now directly owns 5,374,998 shares in the company, valued at approximately $63,317,476.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 457,000 shares of company stock worth $7,763,920. 30.52% of the stock is owned by corporate 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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