Equinix (NASDAQ:EQIX) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Equinix (NASDAQ:EQIX) from a strong sell rating to a sell rating in a research report report published on Thursday, March 15th.

Other research analysts have also issued reports about the company. Barclays reissued a buy rating and issued a $500.00 price objective on shares of Equinix in a research report on Friday, February 16th. Credit Suisse Group set a $515.00 target price on Equinix and gave the stock a buy rating in a research report on Tuesday, December 12th. Wells Fargo dropped their target price on Equinix from $510.00 to $485.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Guggenheim set a $515.00 price target on Equinix and gave the stock a buy rating in a research note on Thursday, February 15th. Finally, Bank of America reiterated a buy rating and issued a $520.00 price target (up from $450.21) on shares of Equinix in a research note on Wednesday, December 13th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Equinix has an average rating of Buy and a consensus target price of $499.00.

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Shares of EQIX stock traded down $6.55 during mid-day trading on Thursday, hitting $407.04. 518,876 shares of the company’s stock were exchanged, compared to its average volume of 653,245. Equinix has a fifty-two week low of $370.79 and a fifty-two week high of $495.35. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $32,248.96, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 1.23 and a beta of 0.51.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $3.87 by ($3.05). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Equinix had a return on equity of 6.54% and a net margin of 5.33%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business posted $4.08 earnings per share. analysts anticipate that Equinix will post 18.73 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Monday, February 26th were given a dividend of $2.28 per share. This represents a $9.12 annualized dividend and a yield of 2.24%. This is a boost from Equinix’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, February 23rd. Equinix’s payout ratio is presently 49.22%.

In other news, CEO Stephen M. Smith sold 10,706 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Earl Campbell sold 590 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $443.92, for a total transaction of $261,912.80. Following the completion of the sale, the insider now owns 1,658 shares of the company’s stock, valued at $736,019.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,999 shares of company stock worth $16,487,201. Corporate insiders own 0.58% of the company’s stock.

A number of large investors have recently modified their holdings of EQIX. Whittier Trust Co. lifted its position in Equinix by 191.5% during the 4th quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 157 shares during the last quarter. Zions Bancorporation lifted its position in Equinix by 2,550.0% during the 3rd quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 255 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Equinix during the 4th quarter worth $121,000. Truewealth LLC acquired a new position in Equinix during the 4th quarter worth $137,000. Finally, Amica Retiree Medical Trust acquired a new position in Equinix during the 3rd quarter worth $188,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

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About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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