Luxoft (LXFT) Releases FY18 Earnings Guidance

Luxoft (NYSE:LXFT) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.77-2.85 for the period, compared to the Thomson Reuters consensus estimate of $2.92. The company issued revenue guidance of $900-905 million, compared to the consensus revenue estimate of $922.68 million.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Luxoft from a buy rating to a hold rating in a research report on Thursday, January 18th. Cantor Fitzgerald raised shares of Luxoft from a neutral rating to an overweight rating and set a $65.00 target price for the company in a research report on Wednesday, January 17th. KeyCorp raised shares of Luxoft from a sector weight rating to an overweight rating in a research report on Tuesday, December 5th. Pivotal Research assumed coverage on shares of Luxoft in a research report on Tuesday, December 5th. They issued a buy rating and a $70.00 target price for the company. Finally, UBS Group lifted their target price on shares of Luxoft from $51.00 to $55.00 and gave the stock a neutral rating in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Luxoft presently has an average rating of Hold and a consensus price target of $63.00.

Shares of Luxoft (LXFT) traded down $0.90 during trading on Tuesday, hitting $53.30. 266,486 shares of the stock traded hands, compared to its average volume of 244,828. The stock has a market cap of $1,780.89, a PE ratio of 32.46 and a beta of 1.42. Luxoft has a 1-year low of $40.15 and a 1-year high of $67.85.

Luxoft (NYSE:LXFT) last issued its quarterly earnings results on Thursday, November 16th. The software maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.13. The business had revenue of $228.03 million for the quarter, compared to analysts’ expectations of $227.09 million. Luxoft had a net margin of 6.72% and a return on equity of 17.81%. equities research analysts expect that Luxoft will post 2.18 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Luxoft stock. State Street Corp raised its holdings in shares of Luxoft Holding Inc (NYSE:LXFT) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,008 shares of the software maker’s stock after acquiring an additional 523 shares during the quarter. State Street Corp owned approximately 0.09% of Luxoft worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 52.23% of the company’s stock.

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About Luxoft

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.

Earnings History and Estimates for Luxoft (NYSE:LXFT)

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