Headlines about Switch (NYSE:SWCH) have been trending somewhat positive this week, InfoTrie reports. The research firm identifies positive and negative news coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores closest to five being the most favorable. Switch earned a daily sentiment score of 1.52 on their scale. InfoTrie also gave news stories about the company an news buzz score of 9 out of 10, meaning that recent news coverage is extremely likely to have an effect on the company’s share price in the immediate future.
These are some of the news articles that may have impacted Switch’s ranking:
- Nintendo Switch FIFA 19 players shafted once again as EA pulls Ultimate Team advert for content that never showed up – Eurogamer.net (eurogamer.net)
- Hang On, Why Is Team Sonic Racing’s Opening Movie Missing On Switch? – Nintendo Life (nintendolife.com)
- MotoGP 19 on Switch has several improvements, but ditches online play – Nintendo Enthusiast (nintendoenthusiast.com)
- Japanese Charts: Nintendo Switch Games Take Up Eight Of The Top Ten Spots – Nintendo Life (nintendolife.com)
- Why Switch, Inc.’s (NYSE:SWCH) Return On Capital Employed Looks Uninspiring (finance.yahoo.com)
Shares of Switch stock traded down $0.04 during trading hours on Wednesday, reaching $12.73. The company’s stock had a trading volume of 792,129 shares, compared to its average volume of 1,187,104. Switch has a one year low of $6.39 and a one year high of $14.37. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. The company has a market cap of $3.10 billion, a PE ratio of 141.44, a price-to-earnings-growth ratio of 6.26 and a beta of 1.10.
Switch (NYSE:SWCH) last posted its earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Switch had a return on equity of 1.27% and a net margin of 0.98%. The business had revenue of $107.03 million during the quarter, compared to the consensus estimate of $105.43 million. As a group, sell-side analysts expect that Switch will post 0.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 22nd will be paid a dividend of $0.0294 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.92%. Switch’s dividend payout ratio is presently 133.33%.
Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Switch from $10.00 to $12.00 in a research report on Friday, May 10th. BMO Capital Markets reiterated a “buy” rating and issued a $10.50 price target on shares of Switch in a report on Tuesday, March 12th. Zacks Investment Research upgraded shares of Switch from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a report on Saturday, March 2nd. Finally, ValuEngine upgraded shares of Switch from a “hold” rating to a “buy” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $13.45.
In related news, major shareholder Scott Russell Gragson sold 104,350 shares of Switch stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $11.06, for a total transaction of $1,154,111.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald D. Snyder sold 300,000 shares of Switch stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.42, for a total transaction of $3,126,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 554,350 shares of company stock valued at $5,921,819. 28.39% of the stock is owned by corporate insiders.
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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