BidaskClub upgraded shares of Equinix (NASDAQ:EQIX) from a strong sell rating to a sell rating in a report released on Thursday.
A number of other equities analysts have also commented on EQIX. Zacks Investment Research lowered shares of Equinix from a buy rating to a hold rating in a research report on Wednesday, February 21st. Bank of America reaffirmed a buy rating and set a $520.00 target price (up from $450.21) on shares of Equinix in a research report on Wednesday, December 13th. Credit Suisse Group reaffirmed a buy rating and set a $519.00 target price on shares of Equinix in a research report on Sunday, February 25th. Guggenheim set a $515.00 target price on shares of Equinix and gave the stock a buy rating in a research report on Thursday, February 15th. Finally, UBS raised shares of Equinix from a neutral rating to a buy rating and set a $510.00 target price on the stock in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $499.00.
Shares of Equinix (NASDAQ:EQIX) opened at $419.89 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.81 and a quick ratio of 1.81. Equinix has a 1 year low of $370.79 and a 1 year high of $495.35. The firm has a market cap of $33,267.04, a PE ratio of 140.43, a P/E/G ratio of 1.27 and a beta of 0.56.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.87 by ($3.05). Equinix had a return on equity of 6.54% and a net margin of 5.33%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company earned $4.08 earnings per share. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. equities research analysts predict that Equinix will post 18.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, February 26th will be issued a dividend of $2.28 per share. This represents a $9.12 annualized dividend and a yield of 2.17%. This is a positive change from Equinix’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, February 23rd. Equinix’s dividend payout ratio (DPR) is presently 305.02%.
In related news, Director Camp Peter Van sold 1,593 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $441.55, for a total transaction of $703,389.15. Following the transaction, the director now directly owns 5,871 shares of the company’s stock, valued at $2,592,340.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen M. Smith sold 10,706 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $443.10, for a total transaction of $4,743,828.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,499 shares of company stock worth $15,869,591. 0.58% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of EQIX. Whittier Trust Co. boosted its stake in Equinix by 191.5% in the fourth quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 157 shares in the last quarter. Zions Bancorporation boosted its stake in Equinix by 2,550.0% in the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 255 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $121,000. Truewealth LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $137,000. Finally, Amica Retiree Medical Trust acquired a new stake in Equinix in the third quarter valued at approximately $188,000. 96.13% of the stock is currently owned by institutional investors.
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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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