FY2018 EPS Estimates for Luxoft Holding Inc Reduced by KeyCorp (LXFT)

Luxoft Holding Inc (NYSE:LXFT) – Research analysts at KeyCorp reduced their FY2018 EPS estimates for shares of Luxoft in a research note issued to investors on Monday, May 21st. KeyCorp analyst A. Ramnani now anticipates that the software maker will earn $2.04 per share for the year, down from their previous estimate of $2.05. KeyCorp has a “Overweight” rating and a $53.00 price objective on the stock. KeyCorp also issued estimates for Luxoft’s Q4 2018 earnings at $0.42 EPS, Q3 2019 earnings at $0.65 EPS and FY2019 earnings at $2.45 EPS.

Luxoft (NYSE:LXFT) last announced its quarterly earnings results on Thursday, May 24th. The software maker reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $232.90 million for the quarter, compared to the consensus estimate of $228.74 million. Luxoft had a return on equity of 17.07% and a net margin of 6.72%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 EPS.

A number of other research analysts have also recently commented on the stock. ValuEngine cut shares of Luxoft from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Zacks Investment Research cut shares of Luxoft from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 20th. VTB Capital upgraded shares of Luxoft from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Credit Suisse Group cut their price target on shares of Luxoft from $50.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, February 15th. Finally, Pivotal Research cut shares of Luxoft from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Luxoft currently has a consensus rating of “Hold” and a consensus target price of $54.91.

Shares of Luxoft opened at $33.00 on Thursday, according to Marketbeat.com. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 15.42 and a beta of 1.65. Luxoft has a 12 month low of $31.50 and a 12 month high of $66.55.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in shares of Luxoft by 185.5% in the third quarter. Wells Fargo & Company MN now owns 9,797 shares of the software maker’s stock valued at $468,000 after purchasing an additional 6,365 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Luxoft by 100.8% in the third quarter. Dimensional Fund Advisors LP now owns 245,276 shares of the software maker’s stock valued at $11,724,000 after purchasing an additional 123,126 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Luxoft in the fourth quarter valued at approximately $10,491,000. Redmond Asset Management LLC acquired a new stake in shares of Luxoft in the fourth quarter valued at approximately $518,000. Finally, Silver Capital Management LLC acquired a new stake in shares of Luxoft in the fourth quarter valued at approximately $1,199,000. 55.86% of the stock is owned by institutional investors.

About Luxoft

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations primarily in Europe and the United States. It offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.

Earnings History and Estimates for Luxoft (NYSE:LXFT)

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