Equinix (NASDAQ:EQIX) had its price objective lowered by Wells Fargo & Co from $510.00 to $485.00 in a research note published on Thursday morning. Wells Fargo & Co currently has an outperform rating on the financial services provider’s stock.
A number of other research firms also recently commented on EQIX. Credit Suisse Group lowered their target price on Equinix from $524.00 to $519.00 and set an outperform rating for the company in a research report on Thursday. Oppenheimer increased their target price on Equinix from $472.00 to $500.00 and gave the company an outperform rating in a research report on Thursday, November 2nd. BidaskClub downgraded Equinix from a sell rating to a strong sell rating in a research report on Thursday, January 25th. UBS Group upgraded Equinix from a neutral rating to a buy rating and set a $510.00 target price for the company in a research report on Monday, January 29th. Finally, Citigroup increased their target price on Equinix from $518.00 to $530.00 and gave the company a buy rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Equinix currently has an average rating of Buy and a consensus target price of $502.96.
Shares of Equinix (NASDAQ EQIX) opened at $403.30 on Thursday. The company has a current ratio of 1.80, a quick ratio of 2.11 and a debt-to-equity ratio of 1.45. Equinix has a fifty-two week low of $361.90 and a fifty-two week high of $495.35. The stock has a market cap of $31,551.77, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.87 by ($3.05). Equinix had a net margin of 5.33% and a return on equity of 6.54%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $4.08 earnings per share. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. equities research analysts anticipate that Equinix will post 18.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, February 26th will be given a $2.28 dividend. The ex-dividend date is Friday, February 23rd. This is an increase from Equinix’s previous quarterly dividend of $2.00. This represents a $9.12 dividend on an annualized basis and a yield of 2.26%. Equinix’s dividend payout ratio (DPR) is currently 267.56%.
In related news, Director Camp Peter Van sold 1,593 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was 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 directly owns 5,871 shares in the company, valued at $2,592,340.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charles J. Meyers sold 2,196 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $450.00, for a total value of $988,200.00. Following the completion of the sale, the insider now owns 1,844 shares of the company’s stock, valued at $829,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,513 shares of company stock valued at $10,961,480. 0.58% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,898,601 shares of the financial services provider’s stock worth $847,345,000 after buying an additional 6,178 shares during the last quarter. Edgewood Management LLC lifted its position in shares of Equinix by 1.0% during the third quarter. Edgewood Management LLC now owns 1,862,778 shares of the financial services provider’s stock worth $831,358,000 after purchasing an additional 18,248 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Equinix by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,560,124 shares of the financial services provider’s stock worth $707,080,000 after purchasing an additional 67,029 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Equinix by 7.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,382,606 shares of the financial services provider’s stock worth $626,624,000 after purchasing an additional 93,181 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Equinix by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,092,554 shares of the financial services provider’s stock worth $487,600,000 after purchasing an additional 24,433 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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