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.
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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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.
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