Zacks: Analysts Count on Rackspace Expertise, Inc. (NASDAQ:RXT) Will Announce Quarterly Gross sales of $770.60 Million

Wall Road brokerages count on Rackspace Expertise, Inc. (NASDAQ:RXT) to announce $770.60 million in gross sales for the present quarter, Zacks reviews. 5 analysts have made estimates for Rackspace Expertise’s earnings. The bottom gross sales estimate is $768.13 million and the very best is $773.50 million. Rackspace Expertise posted gross sales of $716.20 million in the identical quarter final yr, which suggests a constructive yr over yr development charge of seven.6%. The corporate is scheduled to report its subsequent quarterly earnings report on Thursday, February seventeenth.

Based on Zacks, analysts count on that Rackspace Expertise will report full-year gross sales of $3.00 billion for the present fiscal yr, with estimates starting from $3.00 billion to $3.01 billion. For the following yr, analysts forecast that the agency will report gross sales of $3.27 billion, with estimates starting from $3.22 billion to $3.32 billion. Zacks’ gross sales calculations are a imply common based mostly on a survey of analysis corporations that that present protection for Rackspace Expertise.

Rackspace Expertise (NASDAQ:RXT) final launched its quarterly earnings knowledge on Monday, November fifteenth. The corporate reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Rackspace Expertise had a constructive return on fairness of 15.03% and a detrimental internet margin of 6.76%. The agency had income of $763.00 million for the quarter, in comparison with the consensus estimate of $756.03 million. Throughout the identical quarter within the prior yr, the corporate posted $0.19 earnings per share. The agency’s income was up 26.7% on a year-over-year foundation.

RXT has been the subject of a number of current analyst reviews. Credit score Suisse Group boosted their value goal on Rackspace Expertise from $21.00 to $25.00 and gave the inventory an “outperform” ranking in a analysis report on Tuesday, November sixteenth. Zacks Funding Analysis downgraded Rackspace Expertise from a “purchase” ranking to a “maintain” ranking in a analysis observe on Tuesday, November 2nd. 4 equities analysis analysts have rated the inventory with a maintain ranking and 7 have issued a purchase ranking to the corporate’s inventory. Based on MarketBeat, the inventory presently has a median ranking of “Purchase” and a consensus goal value of $22.15.

A number of institutional buyers and hedge funds have lately added to or decreased their stakes within the enterprise. Financial institution of New York Mellon Corp elevated its place in shares of Rackspace Expertise by 23.1% through the third quarter. Financial institution of New York Mellon Corp now owns 329,292 shares of the corporate’s inventory value $4,682,000 after buying an extra 61,838 shares through the interval. ValueAct Holdings L.P. bought a brand new place in Rackspace Expertise within the third quarter valued at $5,688,000. Verition Fund Administration LLC elevated its holdings in Rackspace Expertise by 19.4% within the third quarter. Verition Fund Administration LLC now owns 18,939 shares of the corporate’s inventory valued at $269,000 after shopping for an extra 3,071 shares within the final quarter. LPL Monetary LLC elevated its stake in shares of Rackspace Expertise by 30.7% through the third quarter. LPL Monetary LLC now owns 63,863 shares of the corporate’s inventory value $908,000 after buying an extra 15,007 shares within the final quarter. Lastly, Metropolitan Life Insurance coverage Co NY elevated its stake in shares of Rackspace Expertise by 4.6% through the third quarter. Metropolitan Life Insurance coverage Co NY now owns 14,941 shares of the corporate’s inventory value $212,000 after buying an extra 651 shares within the final quarter. 86.82% of the inventory is owned by institutional buyers and hedge funds.

Shares of RXT inventory opened at $13.36 on Thursday. The corporate has a fast ratio of 1.12, a present ratio of 1.12 and a debt-to-equity ratio of two.73. Rackspace Expertise has a 12 month low of $12.47 and a 12 month excessive of $26.43. The agency has a market cap of $2.81 billion, a price-to-earnings ratio of -13.63, a PEG ratio of 1.39 and a beta of 0.72. The inventory has a 50-day shifting common value of $14.17 and a 200 day shifting common value of $15.42.

Rackspace Expertise Firm Profile

Rackspace Expertise, Inc operates as a multi cloud expertise providers firm worldwide. It operates by way of Multicloud Companies and Apps & Cross Platform segments. The corporate’s Multicloud Companies section gives private and non-private cloud managed providers, which permit prospects to find out, handle, and optimize the proper infrastructure, platforms, and providers; {and professional} providers associated to designing and constructing multi cloud options and cloud-native functions.

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