SWCH has been the subject of a number of other research reports. William Blair reaffirmed an outperform rating on shares of Switch in a report on Thursday, April 5th. BMO Capital Markets cut their price objective on shares of Switch from $23.00 to $20.00 and set an outperform rating for the company in a report on Tuesday, April 3rd. Raymond James raised shares of Switch from a market perform rating to an outperform rating in a report on Monday, March 12th. Cowen began coverage on shares of Switch in a report on Friday, January 19th. They issued an underweight rating for the company. Finally, UBS 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, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Switch presently has a consensus rating of Hold and an average target price of $20.83.
Switch opened at $12.62 on Thursday, according to MarketBeat. Switch has a fifty-two week low of $12.59 and a fifty-two week high of $24.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.37 and a quick ratio of 4.41.
Switch (NYSE:SWCH) last released its quarterly earnings data on Monday, May 14th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The business had revenue of $97.70 million for the quarter, compared to the consensus estimate of $99.79 million. During the same period last year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. research analysts anticipate that Switch will post 0.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Tuesday, May 29th will be given a $0.0147 dividend. The ex-dividend date of this dividend is Friday, May 25th. This represents a $0.06 annualized dividend and a dividend yield of 0.47%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its position in shares of Switch by 1,047.1% in the first quarter. Millennium Management LLC now owns 402,481 shares of the company’s stock valued at $6,403,000 after purchasing an additional 367,393 shares during the period. Sylebra HK Co Ltd acquired a new stake in shares of Switch in the first quarter valued at about $13,957,000. Verition Fund Management LLC acquired a new stake in shares of Switch in the first quarter valued at about $1,158,000. Point72 Asset Management L.P. acquired a new stake in shares of Switch in the first quarter valued at about $3,686,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Switch by 111.5% in the first quarter. The Manufacturers Life Insurance Company now owns 14,096 shares of the company’s stock valued at $224,000 after purchasing an additional 7,430 shares during the period. Institutional investors and hedge funds own 14.13% of the company’s stock.
Switch Company Profile
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, and telecommunications providers that conduct critical business on the Internet. The company develops and operates data centers in Nevada, Michigan, and Georgia.
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