Analysts expect Switch Inc (NYSE:SWCH) to announce earnings per share (EPS) of $0.03 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Switch’s earnings, with estimates ranging from $0.03 to $0.04. Switch posted earnings per share of $0.08 during the same quarter last year, which would indicate a negative year over year growth rate of 62.5%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, November 13th.

On average, analysts expect that Switch will report full year earnings of $0.11 per share for the current fiscal year, with EPS estimates ranging from $0.08 to $0.12. For the next fiscal year, analysts forecast that the firm will report earnings of $0.20 per share, with EPS estimates ranging from $0.13 to $0.23. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Switch.

Switch (NYSE:SWCH) last posted its earnings results on Monday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $102.20 million for the quarter, compared to analyst estimates of $102.78 million. Switch had a negative net margin of 12.35% and a positive return on equity of 0.49%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 earnings per share.

A number of research analysts have issued reports on the stock. BMO Capital Markets reduced their target price on shares of Switch from $20.00 to $14.00 and set an “average” rating for the company in a research note on Tuesday, August 14th. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 price target (down from $12.00) on shares of Switch in a research note on Tuesday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of Switch in a research note on Tuesday, August 14th. BTIG Research lowered shares of Switch from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research note on Tuesday, August 14th. Finally, JPMorgan Chase & Co. lowered shares of Switch from an “overweight” rating to a “neutral” rating and set a $17.00 price target for the company. in a research note on Tuesday, August 14th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Switch has an average rating of “Hold” and a consensus price target of $16.35.

In related news, major shareholder Intel Capital Corp sold 1,727,555 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $10.98, for a total value of $18,968,553.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Thomas bought 22,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average price of $11.52 per share, for a total transaction of $253,440.00. The disclosure for this purchase can be found here. Corporate insiders own 12.64% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new stake in shares of Switch in the 2nd quarter worth approximately $103,000. First Republic Investment Management Inc. bought a new stake in shares of Switch in the 2nd quarter worth approximately $157,000. Sustainable Insight Capital Management LLC bought a new stake in shares of Switch in the 2nd quarter worth approximately $173,000. Baird Financial Group Inc. bought a new stake in shares of Switch in the 2nd quarter worth approximately $193,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Switch by 111.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,096 shares of the company’s stock worth $224,000 after purchasing an additional 7,430 shares in the last quarter. Institutional investors and hedge funds own 18.28% of the company’s stock.

Switch stock opened at $9.29 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.78 and a quick ratio of 2.78. Switch has a 52-week low of $8.41 and a 52-week high of $20.18.

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, 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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