Equinix, Inc. (REIT) (NASDAQ:EQIX) – Analysts at William Blair raised their Q2 2021 earnings per share (EPS) estimates for Equinix in a research report issued to clients and investors on Wednesday, April 28th. William Blair analyst J. Breen now forecasts that the financial services provider will post earnings per share of $6.03 for the quarter, up from their previous forecast of $6.01. William Blair also issued estimates for Equinix’s Q3 2021 earnings at $6.02 EPS.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.03 by ($4.29). Equinix had a return on equity of 4.62% and a net margin of 7.58%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm posted $6.21 EPS. Equinix’s quarterly revenue was up 10.4% compared to the same quarter last year.
A number of other brokerages have also weighed in on EQIX. Citigroup decreased their target price on Equinix from $883.00 to $849.00 and set a “buy” rating for the company in a research report on Friday, February 12th. Mizuho boosted their target price on Equinix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, April 21st. Wolfe Research began coverage on shares of Equinix in a research report on Thursday, March 18th. They set an “outperform” rating for the company. Raymond James upped their price target on shares of Equinix from $835.00 to $856.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 11th. Finally, Barclays upped their price target on shares of Equinix from $861.00 to $867.00 and gave the company an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $827.21.
Shares of NASDAQ:EQIX opened at $710.03 on Monday. Equinix has a fifty-two week low of $586.73 and a fifty-two week high of $839.77. The business has a 50-day simple moving average of $691.79 and a two-hundred day simple moving average of $707.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $63.60 billion, a price-to-earnings ratio of 139.22, a price-to-earnings-growth ratio of 1.99 and a beta of 0.31.
Several hedge funds and other institutional investors have recently bought and sold shares of EQIX. Schonfeld Strategic Advisors LLC bought a new position in shares of Equinix during the 3rd quarter valued at approximately $416,000. Paces Ferry Wealth Advisors LLC bought a new position in shares of Equinix during the 3rd quarter valued at approximately $43,000. Sei Investments Co. boosted its position in shares of Equinix by 18.0% during the 3rd quarter. Sei Investments Co. now owns 178,945 shares of the financial services provider’s stock valued at $136,032,000 after acquiring an additional 27,314 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Equinix by 44.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,159 shares of the financial services provider’s stock valued at $881,000 after acquiring an additional 359 shares during the last quarter. Finally, HM Payson & Co. boosted its position in shares of Equinix by 4.8% during the 3rd quarter. HM Payson & Co. now owns 676 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.
In other Equinix news, CEO Charles J. Meyers sold 59 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $723.64, for a total value of $42,694.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Camp Peter Van sold 170 shares of the company’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $671.93, for a total value of $114,228.10. Following the completion of the transaction, the chairman now owns 8,630 shares of the company’s stock, valued at $5,798,755.90. The disclosure for this sale can be found here. Insiders sold a total of 9,836 shares of company stock valued at $6,692,520 over the last 90 days. 0.51% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 16th. Shareholders of record on Wednesday, May 19th will be paid a $2.87 dividend. The ex-dividend date of this dividend is Tuesday, May 18th. This represents a $11.48 annualized dividend and a yield of 1.62%. Equinix’s payout ratio is 50.33%.
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.
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