Wolfe Research Downgrades Equinix (NASDAQ:EQIX) to Peer Perform

Wolfe Research lowered shares of Equinix (NASDAQ:EQIX) from an outperform rating to a peer perform rating in a report issued on Monday, Marketbeat reports.

Several other research analysts have also commented on the company. Citigroup lifted their price target on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Stifel Nicolaus boosted their price objective on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, May 1st. BMO Capital Markets reduced their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. BNP Paribas upgraded shares of Equinix to a “strong-buy” rating in a report on Thursday, May 1st. Finally, Scotiabank reduced their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $1,004.80.

Equinix Stock Performance

EQIX opened at $893.70 on Monday. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $87.42 billion, a PE ratio of 104.53, a P/E/G ratio of 1.78 and a beta of 0.97. The firm has a 50 day moving average of $845.84 and a two-hundred day moving average of $890.18.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the company earned $8.86 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Equinix will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer now owns 9,615 shares of the company’s stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now directly owns 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock valued at $2,808,008 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its stake in Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after buying an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after buying an additional 2,560 shares in the last quarter. National Pension Service boosted its stake in Equinix by 1.3% in the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after buying an additional 3,164 shares in the last quarter. Empowered Funds LLC boosted its stake in Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Equinix by 20.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider’s stock valued at $93,807,000 after buying an additional 17,084 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.