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 paid a dividend of 0.014 per share on Friday, December 29th. The ex-dividend date is Friday, December 15th.

Shares of Switch (SWCH) traded up $0.15 during mid-day trading on Friday, reaching $17.00. The company’s stock had a trading volume of 646,100 shares, compared to its average volume of 1,474,235. Switch has a fifty-two week low of $15.77 and a fifty-two week high of $24.90. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.18.

Switch (NYSE:SWCH) last issued its quarterly earnings data on Monday, November 13th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $95.81 million. The business’s revenue was up 19.6% compared to the same quarter last year. equities research analysts anticipate that Switch will post 0.02 earnings per share for the current fiscal year.

SWCH has been the topic of a number of analyst reports. Credit Suisse Group set a $22.00 target price on Switch and gave the company a “buy” rating in a research note on Thursday, November 30th. BTIG Research initiated coverage on Switch in a research note on Tuesday, October 31st. They set a “buy” rating and a $22.00 target price on the stock. Jefferies Group initiated coverage on Switch in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. Wells Fargo & Company initiated coverage on Switch in a research note on Tuesday, October 31st. They set a “market perform” rating on the stock. Finally, Raymond James Financial initiated coverage on Switch in a research note on Tuesday, October 31st. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.20.

In other news, insider Erin Thomas Morton acquired 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were bought at an average price of $17.00 per share, with a total value of $5,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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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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