Somewhat Positive News Coverage Unlikely to Affect Switch (SWCH) Stock Price
Press coverage about Switch (NYSE:SWCH) has trended somewhat positive this week, InfoTrie Sentiment Analysis reports. InfoTrie identifies negative and positive media 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 -5 to 5, with scores nearest to five being the most favorable. Switch earned a media sentiment score of 1.17 on their scale. InfoTrie also assigned news articles about the company an news buzz score of 3 out of 10, meaning that recent media coverage is unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the headlines that may have effected Switch’s analysis:
- Cricket 19 Secures May Release Date On Switch – Nintendo Life (nintendolife.com)
- Katana Zero Is Devolver Digital’s Most Pre-Ordered Switch Game So Far – Nintendo Life (nintendolife.com)
- Nintendo Switch eShop server Error Code: 2137-8056 – Shacknews (shacknews.com)
- China’s Guangdong gives Tencent approval to distribute Nintendo’s Switch console – Reuters (reuters.com)
- The First Of Konami’s Anniversary Collections Lands On Switch Today – Nintendo Life (nintendolife.com)
Shares of Switch stock opened at $10.76 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.85. Switch has a 1-year low of $6.39 and a 1-year high of $16.04. The firm has a market capitalization of $2.66 billion, a PE ratio of 119.50, a PEG ratio of 5.31 and a beta of 1.05.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 25th were given a dividend of $0.0294 per share. The ex-dividend date was Friday, March 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. This is a positive change from Switch’s previous quarterly dividend of $0.01. Switch’s payout ratio is 133.33%.
SWCH has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Switch from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday. BMO Capital Markets restated a “buy” rating and issued a $10.50 price objective on shares of Switch in a research note on Tuesday, March 12th. Finally, Berenberg Bank initiated coverage on shares of Switch in a research note on Tuesday, January 8th. They issued a “buy” rating and a $11.00 price objective for the company. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $13.82.
In related news, Director Donald D. Snyder sold 300,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.42, for a total transaction of $3,126,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.64% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Somewhat Positive News Coverage Unlikely to Affect Switch (SWCH) Stock Price” was reported by Watch List News and is the property of of Watch List News. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.watchlistnews.com/somewhat-positive-news-coverage-unlikely-to-affect-switch-swch-stock-price/2971314.html.
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.
Read More: What is Net Asset Value (NAV)?
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.