Luxoft Holding Inc (LXFT) Expected to Post Quarterly Sales of $232.18 Million

Equities analysts expect Luxoft Holding Inc (NYSE:LXFT) to post $232.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Luxoft’s earnings, with the highest sales estimate coming in at $239.43 million and the lowest estimate coming in at $228.40 million. Luxoft reported sales of $228.03 million during the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The company is expected to issue its next earnings results on Thursday, November 15th.

According to Zacks, analysts expect that Luxoft will report full year sales of $952.24 million for the current financial year, with estimates ranging from $943.11 million to $965.60 million. For the next financial year, analysts anticipate that the firm will post sales of $1.10 billion per share, with estimates ranging from $1.06 billion to $1.12 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Luxoft.

Luxoft (NYSE:LXFT) last released its quarterly earnings data on Wednesday, August 15th. The software maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.28. Luxoft had a net margin of 6.09% and a return on equity of 15.44%. The business had revenue of $212.79 million for the quarter, compared to analyst estimates of $212.44 million. During the same quarter last year, the firm earned $0.50 EPS. Luxoft’s quarterly revenue was up 1.7% compared to the same quarter last year.

Several analysts have commented on the stock. ValuEngine upgraded shares of Luxoft from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research lowered Luxoft from a “buy” rating to a “strong sell” rating in a research report on Friday, June 1st. KeyCorp upped their target price on Luxoft from $47.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $46.00 target price on shares of Luxoft in a research report on Monday. Finally, Berenberg Bank set a $55.00 target price on Luxoft and gave the stock a “buy” rating in a research report on Friday, May 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $49.67.

Luxoft stock traded up $0.55 during midday trading on Friday, hitting $46.80. 250,300 shares of the stock were exchanged, compared to its average volume of 291,206. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 22.13 and a beta of 1.76. Luxoft has a 52 week low of $31.50 and a 52 week high of $59.05.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LXFT. Massachusetts Financial Services Co. MA acquired a new position in Luxoft during the 2nd quarter valued at about $39,465,000. FIL Ltd acquired a new position in shares of Luxoft in the 1st quarter valued at $36,183,000. Barings LLC boosted its holdings in shares of Luxoft by 125.1% in the 1st quarter. Barings LLC now owns 348,398 shares of the software maker’s stock valued at $14,267,000 after purchasing an additional 193,657 shares during the last quarter. Sloane Robinson LLP acquired a new position in shares of Luxoft in the 2nd quarter valued at $6,081,000. Finally, Hawk Ridge Capital Management LP boosted its holdings in shares of Luxoft by 69.2% in the 1st quarter. Hawk Ridge Capital Management LP now owns 333,559 shares of the software maker’s stock valued at $13,659,000 after purchasing an additional 136,400 shares during the last quarter. 54.76% of the stock is owned by institutional investors and hedge funds.

About Luxoft

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations primarily in Europe and the United States. It 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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