Cyxtera Technologies Inc. (NASDAQ: CYXT) stock fell -4.65% on Friday to $2.46 against a previous-day closing price of $2.58. With 0.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.58 million shares. During the session, the Information Technology Services company that operates in wider Technology sector, reached to the highest price of $2.6400 whereas the lowest price it dropped to was $2.4500. The 52-week range on CYXT shows that it touched its highest point at $15.42 and its lowest point at $1.53 during that stretch. It currently has a 1-year price target of $6.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CYXT was up-trending over the past week, with a rise of 4.68%, but this was up by 37.43% over a month. Three-month performance dropped to -11.19% while six-month performance fell -78.59%. The stock lost -77.24% in the past year, while it has gained 28.13% so far this year. A look at the trailing 12-month EPS for CYXT yields -2.71 with Next year EPS estimates of -0.88. For the next quarter, that number is -0.25. This implies an EPS growth rate of -161.80% for this year and 17.80% for next year.
Float and Shares Shorts:
At present, 179.12 million CYXT shares are outstanding with a float of 133.01 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.08 million, which was 3.41% higher than short shares on Sep 14, 2022. In addition to Mr. Nelson Fonseca as the firm’s Pres, CEO & Director, Mr. Carlos Sagasta serves as its Chief Financial Officer.
Through their ownership of 72.02% of CYXT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 20.07% of CYXT, in contrast to 13.95% held by mutual funds. Shares owned by individuals account for 123.78%. As the largest shareholder in CYXT with 11.56% of the stake, Starboard Value LP holds 20,767,571 shares worth 20,767,571. A second-largest stockholder of CYXT, Fidelity Management & Research Co, holds 18,003,802 shares, controlling over 10.02% of the firm’s shares. FIAM LLC is the third largest shareholder in CYXT, holding 3,788,229 shares or 2.11% stake. With a 1.91% stake in CYXT, the Fidelity Value Fund is the largest stakeholder. A total of 3,421,692 shares are owned by the mutual fund manager. The Fidelity Real Estate Equity Centr, which owns about 0.89% of CYXT stock, is the second-largest Mutual Fund holder. It holds 1,602,327 shares valued at 3.08 million. Fidelity Series Small Cap Opportu holds 0.79% of the stake in CYXT, owning 1,409,994 shares worth 2.71 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CYXT since 8 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CYXT analysts setting a high price target of $9.00 and a low target of $2.00, the average target price over the next 12 months is $6.00. Based on these targets, CYXT could surge 265.85% to reach the target high and fall by -18.7% to reach the target low. Reaching the average price target will result in a growth of 143.9% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CYXT will report FY 2022 earnings on 03/19/2024. Analysts have provided yearly estimates in a range of -$1.00 being high and -$1.12 being low. For CYXT, this leads to a yearly average estimate of -$1.07. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cyxtera Technologies Inc. surprised analysts by -$0.10 when it reported -$0.31 EPS against a consensus estimate of -$0.21. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.19 and the low estimate is -$0.34. The average estimate for the next quarter is thus -$0.27.
Summary of Insider Activity:
Insiders traded CYXT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 8,113,888 while 439,645,270 shares were sold.