Barclays restated their buy rating on shares of Equinix (NASDAQ:EQIX) in a research report sent to investors on Friday morning. The brokerage currently has a $500.00 target price on the financial services provider’s stock.
A number of other analysts also recently issued reports on EQIX. Deutsche Bank initiated coverage on shares of Equinix in a research report on Tuesday, October 24th. They set a buy rating and a $550.00 target price for the company. JPMorgan Chase & Co. raised shares of Equinix from a neutral rating to an overweight rating and set a $550.00 target price for the company in a research report on Thursday, November 2nd. Citigroup increased their target price on shares of Equinix from $518.00 to $530.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Credit Suisse Group reissued an outperform rating and set a $515.00 target price (up previously from $510.00) on shares of Equinix in a research report on Thursday, November 2nd. Finally, Nomura increased their target price on shares of Equinix from $490.00 to $510.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $502.96.
Equinix (EQIX) traded down $4.01 on Friday, reaching $403.30. 1,317,029 shares of the company were exchanged, compared to its average volume of 863,345. The firm has a market cap of $31,865.37, a P/E ratio of 134.88, a PEG ratio of 1.41 and a beta of 0.42. Equinix has a 12-month low of $361.90 and a 12-month high of $495.35. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.11 and a current ratio of 1.80.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 14th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.87 by ($3.05). The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Equinix had a return on equity of 6.54% and a net margin of 5.33%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the company posted $4.08 EPS. analysts expect that Equinix will post 18.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, February 26th will be paid a dividend of $2.28 per share. This is a boost from Equinix’s previous quarterly dividend of $2.00. This represents a $9.12 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, February 23rd. Equinix’s dividend payout ratio is 267.56%.
In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $457.84, for a total transaction of $686,760.00. Following the completion of the transaction, the chief financial officer now directly owns 26,196 shares in the company, valued at approximately $11,993,576.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $476.81, for a total value of $953,620.00. Following the transaction, the chief financial officer now owns 27,996 shares of the company’s stock, valued at $13,348,772.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,513 shares of company stock valued at $10,961,480. Company insiders own 0.58% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Forsta AP Fonden boosted its stake in shares of Equinix by 33.8% during the 3rd quarter. Forsta AP Fonden now owns 30,100 shares of the financial services provider’s stock valued at $13,434,000 after buying an additional 7,600 shares during the last quarter. Amica Pension Fund Board of Trustees purchased a new position in shares of Equinix during the 3rd quarter valued at approximately $1,235,000. Verition Fund Management LLC boosted its stake in shares of Equinix by 17.0% during the 2nd quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock valued at $351,000 after buying an additional 119 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Equinix by 21.4% during the 3rd quarter. Stifel Financial Corp now owns 3,552 shares of the financial services provider’s stock valued at $1,585,000 after buying an additional 627 shares during the last quarter. Finally, Middleton & Co Inc MA boosted its stake in shares of Equinix by 525.5% during the 4th quarter. Middleton & Co Inc MA now owns 15,044 shares of the financial services provider’s stock valued at $6,818,000 after buying an additional 12,639 shares during the last quarter. Institutional investors own 93.85% of the company’s stock.
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Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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