Zacks: Analysts Anticipate Luxoft Holding Inc (LXFT) Will Post Earnings of $0.62 Per Share

Wall Street brokerages expect Luxoft Holding Inc (NYSE:LXFT) to post $0.62 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Luxoft’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.66. Luxoft posted earnings per share of $0.59 in the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The business is expected to issue its next earnings results on Thursday, May 23rd.

According to Zacks, analysts expect that Luxoft will report full year earnings of $2.40 per share for the current fiscal year, with EPS estimates ranging from $2.34 to $2.44. For the next financial year, analysts forecast that the business will report earnings of $2.95 per share, with EPS estimates ranging from $2.87 to $3.06. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Luxoft.

Luxoft (NYSE:LXFT) last issued its earnings results on Wednesday, February 13th. The software maker reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.15. Luxoft had a net margin of 4.60% and a return on equity of 12.33%. The firm had revenue of $230.36 million during the quarter, compared to the consensus estimate of $233.85 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was down 2.6% on a year-over-year basis.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Luxoft from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, February 5th. Berenberg Bank downgraded shares of Luxoft from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Luxoft presently has an average rating of “Hold” and a consensus price target of $50.75.

Shares of NYSE:LXFT opened at $58.62 on Friday. Luxoft has a 52 week low of $29.73 and a 52 week high of $58.70. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 28.05 and a beta of 2.43.

Large investors have recently modified their holdings of the business. New York State Common Retirement Fund acquired a new position in shares of Luxoft in the fourth quarter valued at approximately $168,000. Virtu Financial LLC acquired a new position in shares of Luxoft in the third quarter valued at approximately $214,000. Hsbc Holdings PLC boosted its holdings in shares of Luxoft by 8.2% in the fourth quarter. Hsbc Holdings PLC now owns 9,034 shares of the software maker’s stock valued at $275,000 after buying an additional 681 shares during the period. NJ State Employees Deferred Compensation Plan boosted its holdings in shares of Luxoft by 50.0% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the software maker’s stock valued at $365,000 after buying an additional 4,000 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Luxoft by 137.3% in the fourth quarter. Squarepoint Ops LLC now owns 22,700 shares of the software maker’s stock valued at $691,000 after buying an additional 13,134 shares during the period. 56.36% of the stock is owned by hedge funds and other institutional investors.

About Luxoft

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.

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