$212.62 Million in Sales Expected for Luxoft Holding, Inc. (LXFT) This Quarter
Wall Street brokerages expect that Luxoft Holding, Inc. (NYSE:LXFT) will report $212.62 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Luxoft Holding’s earnings. The highest sales estimate is $216.07 million and the lowest is $204.27 million. Luxoft Holding posted sales of $178.05 million during the same quarter last year, which suggests a positive year over year growth rate of 19.4%. The company is expected to report its next earnings results after the market closes on Thursday, August 10th.
According to Zacks, analysts expect that Luxoft Holding will report full-year sales of $212.62 million for the current fiscal year, with estimates ranging from $943.41 million to $954.50 million. For the next year, analysts anticipate that the company will report sales of $1.15 billion per share, with estimates ranging from $1.12 billion to $1.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Luxoft Holding.
Luxoft Holding (NYSE:LXFT) last posted its earnings results on Monday, May 22nd. The software maker reported $0.46 EPS for the quarter, missing the consensus estimate of $0.51 by $0.05. Luxoft Holding had a return on equity of 21.06% and a net margin of 7.97%. The firm had revenue of $204.10 million during the quarter, compared to the consensus estimate of $202.30 million. During the same quarter last year, the company posted $0.56 EPS. Luxoft Holding’s revenue for the quarter was up 20.6% on a year-over-year basis.
A number of equities analysts have weighed in on LXFT shares. Cowen and Company set a $68.00 target price on shares of Luxoft Holding and gave the stock a “buy” rating in a research note on Friday, June 16th. BidaskClub downgraded shares of Luxoft Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $55.00 target price on shares of Luxoft Holding in a research note on Tuesday, May 23rd. Zacks Investment Research raised shares of Luxoft Holding from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $66.00 target price (up from $63.00) on shares of Luxoft Holding in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $65.83.
Luxoft Holding (LXFT) opened at 60.80 on Thursday. The stock has a 50 day moving average of $62.03 and a 200 day moving average of $61.15. Luxoft Holding has a 12-month low of $48.20 and a 12-month high of $67.85. The company has a market capitalization of $2.03 billion, a PE ratio of 33.04 and a beta of 1.46.
Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Luxoft Holding by 305.1% in the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock valued at $139,000 after buying an additional 1,678 shares in the last quarter. Pacad Investment Ltd. boosted its stake in shares of Luxoft Holding by 50.0% in the second quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock valued at $201,000 after buying an additional 1,100 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Luxoft Holding during the first quarter valued at approximately $204,000. Trexquant Investment LP acquired a new stake in shares of Luxoft Holding during the second quarter valued at approximately $210,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Luxoft Holding during the first quarter valued at approximately $234,000. 95.41% of the stock is owned by institutional investors.
Luxoft Holding Company Profile
Luxoft Holding, Inc, is a provider of software development services and information technology (IT) solutions to a global client base consisting primarily of large 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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