Switch (NYSE:SWCH) Earns Daily News Sentiment Score of -2.00

Press coverage about Switch (NYSE:SWCH) has trended negative on Thursday, according to InfoTrie Sentiment Analysis. The research firm identifies positive and negative news coverage by reviewing more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Switch earned a media sentiment score of -2.00 on their scale. InfoTrie also assigned news headlines about the company an news buzz score of 0 out of 10, meaning that recent news coverage is extremely unlikely to have an effect on the company’s share price in the near future.

These are some of the media stories that may have effected Switch’s ranking:

NYSE SWCH opened at $13.62 on Thursday. Switch has a 1 year low of $10.00 and a 1 year high of $17.83. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 170.27 and a beta of 0.59. The company has a fifty day moving average price of $14.94 and a 200-day moving average price of $15.31.

Switch (NYSE:SWCH) last posted its earnings results on Thursday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). Switch had a return on equity of 3.26% and a net margin of 1.75%. The firm had revenue of $120.50 million during the quarter, compared to the consensus estimate of $119.40 million. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. On average, research analysts anticipate that Switch will post 0.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Thursday, March 12th were paid a $0.029 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.12 annualized dividend and a dividend yield of 0.85%. Switch’s payout ratio is 80.00%.

A number of analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of Switch from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. William Blair restated an “outperform” rating on shares of Switch in a research note on Friday, February 28th. Stifel Nicolaus boosted their price target on shares of Switch from $17.50 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. ValuEngine upgraded shares of Switch from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Zacks Investment Research lowered shares of Switch from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.29.

In related news, major shareholder Lp Borden sold 50,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $13.59, for a total value of $679,500.00. Following the transaction, the insider now directly owns 5,549,998 shares of the company’s stock, valued at approximately $75,424,472.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Michael David Borden sold 75,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the completion of the transaction, the insider now directly owns 5,374,998 shares in the company, valued at $63,317,476.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 515,576 shares of company stock valued at $7,358,630. Company insiders own 28.39% of the company’s stock.

Switch Company Profile

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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Insider Buying and Selling by Quarter for Switch (NYSE:SWCH)

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