Luxoft Holding Inc. (LXFT) Updates FY17 Earnings Guidance
Luxoft Holding Inc. (NYSE:LXFT) updated its FY17 earnings guidance on Friday. The company provided earnings per share guidance of at least $2.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.92. The company issued revenue guidance of at least $781 million, compared to the consensus revenue estimate of $787.66 million.
A number of research analysts have recently weighed in on LXFT shares. Zacks Investment Research cut Luxoft Holding from a hold rating to a sell rating in a research report on Wednesday, August 17th. Wedbush started coverage on Luxoft Holding in a research report on Thursday, September 8th. They issued a neutral rating and a $62.00 price target for the company. Pacific Crest restated a hold rating on shares of Luxoft Holding in a research report on Wednesday. Berenberg Bank restated a hold rating on shares of Luxoft Holding in a research report on Tuesday, August 16th. Finally, Cantor Fitzgerald restated a hold rating and issued a $55.00 price target on shares of Luxoft Holding in a research report on Wednesday, August 17th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Luxoft Holding presently has a consensus rating of Hold and a consensus price target of $67.82.
Shares of Luxoft Holding Inc. (NYSE:LXFT) opened at 48.85 on Friday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 23.83 and a beta of 1.55. The firm has a 50-day moving average price of $52.23 and a 200-day moving average price of $55.09. Luxoft Holding Inc. has a 52 week low of $46.58 and a 52 week high of $80.64.
Luxoft Holding (NYSE:LXFT) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by $0.01. Luxoft Holding had a return on equity of 24.69% and a net margin of 10.24%. The firm earned $178 million during the quarter, compared to the consensus estimate of $176.39 million. During the same period in the prior year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. On average, equities analysts expect that Luxoft Holding Inc. will post $2.91 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its stake in Luxoft Holding by 3.8% in the third quarter. Northern Trust Corp now owns 32,853 shares of the company’s stock worth $1,736,000 after buying an additional 1,189 shares in the last quarter. Fiera Capital Corp purchased a new stake in Luxoft Holding during the second quarter worth approximately $312,000. AHL Partners LLP increased its stake in Luxoft Holding by 392.0% in the second quarter. AHL Partners LLP now owns 36,126 shares of the company’s stock worth $1,880,000 after buying an additional 28,784 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Luxoft Holding by 43.7% in the second quarter. Cubist Systematic Strategies LLC now owns 21,225 shares of the company’s stock worth $1,104,000 after buying an additional 6,454 shares in the last quarter. Finally, Paloma Partners Management Co increased its stake in Luxoft Holding by 1,528.4% in the second quarter. Paloma Partners Management Co now owns 70,216 shares of the company’s stock worth $3,653,000 after buying an additional 65,904 shares in the last quarter. 89.28% of the stock is currently owned by institutional investors.
Luxoft Holding Company Profile
Luxoft Holding, Inc is a provider of software development services and information technology solutions to a client base consisting of multinational corporations. The Company’s software development services consist of custom software development and support, product engineering and testing, and technology consulting.
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