Shares of Equinix, Inc. (NASDAQ:EQIX) have been given a consensus recommendation of “Buy” by the twenty-four analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $500.95.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group set a $515.00 price target on Equinix and gave the company a “buy” rating in a report on Monday, December 18th. Bank of America reiterated a “buy” rating and issued a $520.00 price target (up from $450.21) on shares of Equinix in a report on Wednesday, December 13th. Oppenheimer boosted their price target on Equinix to $525.00 and gave the company an “outperform” rating in a report on Friday, December 22nd. UBS upgraded Equinix from a “neutral” rating to a “buy” rating and set a $510.00 price target for the company in a report on Monday, January 29th. Finally, BidaskClub downgraded Equinix from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th.
In other news, insider Karl Strohmeyer sold 2,717 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $420.00, for a total value of $1,141,140.00. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at $2,232,720. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Camp Peter Van sold 1,593 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $441.55, for a total value of $703,389.15. Following the completion of the sale, the director now owns 5,871 shares of the company’s stock, valued at approximately $2,592,340.05. The disclosure for this sale can be found here. Insiders have sold a total of 37,499 shares of company stock valued at $15,869,591 in the last quarter. 0.58% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in Equinix by 71.9% during the third quarter. Nationwide Fund Advisors now owns 43,062 shares of the financial services provider’s stock valued at $19,219,000 after buying an additional 18,017 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Equinix by 6.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the financial services provider’s stock worth $6,842,000 after purchasing an additional 870 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Equinix by 13.7% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 5,565 shares of the financial services provider’s stock worth $2,484,000 after purchasing an additional 669 shares during the last quarter. FDx Advisors Inc. acquired a new position in Equinix in the 3rd quarter worth about $447,000. Finally, New York State Common Retirement Fund increased its position in Equinix by 1.5% in the 3rd quarter. New York State Common Retirement Fund now owns 202,800 shares of the financial services provider’s stock worth $90,510,000 after purchasing an additional 3,000 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.
Shares of Equinix (EQIX) traded up $2.43 on Friday, hitting $414.14. The company’s stock had a trading volume of 160,541 shares, compared to its average volume of 757,356. Equinix has a one year low of $370.79 and a one year high of $495.35. The firm has a market cap of $33,267.08, a price-to-earnings ratio of 137.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.56. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.81 and a current ratio of 1.81.
Equinix (NASDAQ:EQIX) last announced 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). Equinix had a net margin of 5.33% and a return on equity of 6.54%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $4.08 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. analysts anticipate that Equinix will post 18.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Monday, February 26th will be given a dividend of $2.28 per share. This represents a $9.12 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, February 23rd. This is a positive change from Equinix’s previous quarterly dividend of $2.00. Equinix’s payout ratio is 305.02%.
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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