Cyxtera Technologies (CYXT) Set to Announce Quarterly Earnings on Thursday

Cyxtera Technologies (NASDAQ:CYXTGet Rating) is set to issue its quarterly earnings data before the market opens on Thursday, August 11th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Cyxtera Technologies has set its FY 2022 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Cyxtera Technologies (NASDAQ:CYXTGet Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company had revenue of $182.40 million for the quarter, compared to analysts’ expectations of $182.35 million. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect Cyxtera Technologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Cyxtera Technologies Trading Up 2.8 %

NASDAQ CYXT opened at $12.51 on Thursday. Cyxtera Technologies has a one year low of $7.51 and a one year high of $15.42. The company’s 50 day moving average price is $12.79 and its 200 day moving average price is $12.31. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.44 and a current ratio of 0.44.

Analysts Set New Price Targets

Several research firms recently commented on CYXT. Royal Bank of Canada raised their price target on shares of Cyxtera Technologies from $14.00 to $16.00 in a report on Monday, June 6th. Truist Financial raised their price target on shares of Cyxtera Technologies from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, June 8th. Finally, Credit Suisse Group assumed coverage on shares of Cyxtera Technologies in a research note on Thursday, April 7th. They set an “outperform” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.00.

Institutional Trading of Cyxtera Technologies

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. acquired a new stake in shares of Cyxtera Technologies during the second quarter worth approximately $305,000. Bank of America Corp DE acquired a new stake in shares of Cyxtera Technologies during the first quarter worth approximately $185,000. Royal Bank of Canada grew its position in shares of Cyxtera Technologies by 5.6% during the first quarter. Royal Bank of Canada now owns 259,883 shares of the company’s stock worth $3,176,000 after buying an additional 13,681 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Cyxtera Technologies during the first quarter worth approximately $548,000. Finally, UBS Group AG boosted its holdings in Cyxtera Technologies by 4.6% in the first quarter. UBS Group AG now owns 60,048 shares of the company’s stock worth $734,000 after purchasing an additional 2,632 shares during the period.

About Cyxtera Technologies

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Cyxtera Technologies, Inc provides various data center products and services for enterprises, service providers, and government agencies. It offers retail colocation, interconnection, deployment, and support services; and Bare Metal, an on-demand IT infrastructure solution. The company is headquartered in Coral Gables, Florida.

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