Wall Street analysts forecast that Switch Inc (NYSE:SWCH) will report $103.37 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Switch’s earnings, with the lowest sales estimate coming in at $102.58 million and the highest estimate coming in at $104.43 million. Switch reported sales of $97.69 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.8%. The business is scheduled to report its next quarterly earnings report on Monday, November 12th.

On average, analysts expect that Switch will report full-year sales of $407.87 million for the current year, with estimates ranging from $406.69 million to $409.85 million. For the next year, analysts expect that the firm will report sales of $461.34 million, with estimates ranging from $448.77 million to $478.54 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Switch.

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

A number of research firms have weighed in on SWCH. BTIG Research cut Switch from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Tuesday, August 14th. Zacks Investment Research cut Switch from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th. JPMorgan Chase & Co. cut Switch from an “overweight” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research note on Tuesday, August 14th. Citigroup upgraded Switch from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Thursday, July 19th. Finally, Jefferies Financial Group cut their price target on Switch to $12.00 and set a “hold” rating on the stock in a research note on Tuesday, August 14th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.11.

In other news, major shareholder Intel Capital Corp sold 1,727,555 shares of Switch stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $10.98, for a total transaction of $18,968,553.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Thomas bought 22,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were purchased 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. Insiders have sold 1,918,401 shares of company stock worth $21,566,398 in the last quarter. Insiders own 12.64% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in shares of Switch by 3.4% during the third quarter. Bank of Montreal Can now owns 217,157 shares of the company’s stock worth $2,346,000 after buying an additional 7,215 shares during the last quarter. Northern Trust Corp boosted its holdings in Switch by 70.3% in the 2nd quarter. Northern Trust Corp now owns 245,017 shares of the company’s stock valued at $2,982,000 after purchasing an additional 101,170 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. purchased a new stake in Switch in the 2nd quarter valued at approximately $29,370,000. Bank of New York Mellon Corp boosted its holdings in Switch by 545.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 643,349 shares of the company’s stock valued at $7,830,000 after purchasing an additional 543,618 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Switch by 134.9% in the 2nd quarter. Jane Street Group LLC now owns 29,210 shares of the company’s stock valued at $355,000 after purchasing an additional 16,776 shares in the last quarter. 18.09% of the stock is currently owned by hedge funds and other institutional investors.

Switch stock traded up $0.17 during midday trading on Monday, reaching $9.03. The company’s stock had a trading volume of 606,673 shares, compared to its average volume of 1,094,931. Switch has a fifty-two week low of $8.45 and a fifty-two week high of $20.18. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.78 and a current ratio of 2.78.

Switch Company Profile

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.

Recommended Story: What is the Ex-Dividend Date in Investing?

Get a free copy of the Zacks research report on Switch (SWCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Switch (NYSE:SWCH)

Receive News & Ratings for Switch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Switch and related companies with MarketBeat.com's FREE daily email newsletter.