Rackspace Hosting, Inc. (RAX) Expected to Earn FY2018 Earnings of $1.46 Per Share
Rackspace Hosting (NYSE:RAX) last announced its earnings results on Monday, May 9th. The hosting company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.22 by $0.12. The company earned $518 million during the quarter, compared to analyst estimates of $519.08 million. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS.
Several other research firms have also recently issued reports on RAX. Vetr raised shares of Rackspace Hosting from a "hold" rating to a "buy" rating and set a $26.17 price target on the stock in a research note on Wednesday, April 13th. Zacks Investment Research cut shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a research note on Wednesday, April 20th. Wells Fargo reiterated an "outperform" rating on shares of Rackspace Hosting in a report on Tuesday. RBC Capital reiterated a "buy" rating and set a $26.00 price objective on shares of Rackspace Hosting in a report on Tuesday. Finally, Pacific Crest reiterated a "hold" rating on shares of Rackspace Hosting in a report on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of "Hold" and a c onsensus target price of $30.62.
Shares of Rackspace Hosting (NYSE:RAX) traded down 0.48% during mid-day trading on Thursday, hitting $22.71. 1,234,878 shares of the stock traded hands. The firm's 50 day moving average price is $23.11 and its 200 day moving average price is $23.27. The firm has a market cap of $2.96 billion and a price-to-earnings ratio of 21.13. Rackspace Hosting has a 12-month low of $15.05 and a 12-month high of $44.72.
A number of large investors recently bought and sold shares of RAX. Acadian Asset Management boosted its stake in Rackspace Hosting by 3,208,917.7% in the fourth quarter. Acadian Asset Management now owns 1,989,591 shares of the hosting company's stock worth $50,375,000 after buying an additional 1,989,529 shares during the last quarter. Russell Frank Co boosted its stake in Rackspace Hosting by 500.6% in the fourth quarter. Russell Frank Co now owns 597,020 shares of the hosting company's stock worth $15,070,000 after buying an additional 497,608 shares during the last quarter. DIAM Co. Ltd. boosted its stake in Rackspace Hosting by 902.8% in the fourth quarter. DIAM Co. Ltd. now owns 138,248 shares of the hosting company's stock worth $3,500,000 after buying an additional 124,462 shares during the last quarter. Nordea Investment Management AB boosted its stake in Rackspace Hosting by 3,799.7% in the fourth quarter. Nordea Investment Management AB now owns 123,700 sh ares of the hosting company's stock worth $3,132,000 after buying an additional 120,528 shares during the last quarter. Finally, Janus Capital Management boosted its stake in Rackspace Hosting by 1.6% in the third quarter. Janus Capital Management now owns 825,700 shares of the hosting company's stock worth $20,378,000 after buying an additional 12,732 shares during the last quarter.
Rackspace Hosting, Inc (NYSE:RAX) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds.
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Source: Rackspace Hosting, Inc. (RAX) Expected to Earn FY2018 Earnings of $1.46 Per Share
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