Switch Inc (SWCH) to Issue Special Dividend of $0.01 on December 29th

Switch Inc (NYSE:SWCH) announced a special dividend on Friday, December 8th, Wall Street Journal reports. Shareholders of record on Monday, December 18th will be given a dividend of 0.014 per share on Friday, December 29th. The ex-dividend date is Friday, December 15th.

Shares of Switch (NYSE:SWCH) opened at $17.45 on Friday. Switch has a 1-year low of $15.77 and a 1-year high of $24.90. The company has a debt-to-equity ratio of 5.18, a current ratio of 0.34 and a quick ratio of 0.34.

Switch (NYSE:SWCH) last posted its earnings results on Monday, November 13th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. The business had revenue of $97.70 million for the quarter, compared to the consensus estimate of $95.81 million. Switch’s revenue for the quarter was up 19.6% on a year-over-year basis. analysts expect that Switch will post 0.02 earnings per share for the current year.

In other news, insider Erin Thomas Morton purchased 300,000 shares of the company’s stock in a transaction dated Wednesday, October 11th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $5,100,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

A number of research analysts have recently issued reports on SWCH shares. BTIG Research started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price target on the stock. J P Morgan Chase & Co started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued an “overweight” rating and a $22.00 price target on the stock. BMO Capital Markets started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued an “outperform” rating and a $23.00 price target on the stock. Jefferies Group started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued a “hold” rating on the stock. Finally, Citigroup started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued a “neutral” rating and a $22.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.20.

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Switch Company Profile

Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.

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