Brokerages predict that Equinix Inc (NASDAQ:EQIX) will report $5.10 earnings per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Equinix’s earnings, with the highest EPS estimate coming in at $5.43 and the lowest estimate coming in at $4.91. Equinix reported earnings per share of $4.59 in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The firm is scheduled to announce its next earnings report on Wednesday, August 1st.
On average, analysts expect that Equinix will report full-year earnings of $20.78 per share for the current financial year, with EPS estimates ranging from $20.20 to $21.85. For the next year, analysts forecast that the company will post earnings of $22.74 per share, with EPS estimates ranging from $17.54 to $24.59. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Equinix.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($2.91). Equinix had a net margin of 5.48% and a return on equity of 7.00%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm posted $4.14 EPS. Equinix’s revenue was up 28.1% compared to the same quarter last year.
A number of equities analysts have issued reports on EQIX shares. Deutsche Bank boosted their price objective on shares of Equinix from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Tuesday, April 17th. BidaskClub upgraded shares of Equinix from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 15th. Moffett Nathanson started coverage on shares of Equinix in a research report on Monday, April 9th. They issued a “buy” rating and a $515.00 price objective on the stock. Credit Suisse Group boosted their price objective on shares of Equinix from $519.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, April 27th. Finally, Deutsche Bank decreased their price objective on shares of Equinix from $550.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, May 31st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Equinix has an average rating of “Buy” and a consensus target price of $506.00.
In related news, insider Charles J. Meyers sold 400 shares of the business’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $404.96, for a total transaction of $161,984.00. Following the sale, the insider now owns 4,916 shares of the company’s stock, valued at $1,990,783.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yau Tat Lee sold 5,960 shares of the business’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $402.69, for a total transaction of $2,400,032.40. Following the sale, the insider now directly owns 6,718 shares in the company, valued at approximately $2,705,271.42. The disclosure for this sale can be found here. Insiders have sold a total of 12,660 shares of company stock worth $5,136,550 in the last ninety days. Insiders own 0.51% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Brown Advisory Inc. boosted its stake in Equinix by 64.5% during the first quarter. Brown Advisory Inc. now owns 1,515 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 594 shares in the last quarter. Brasada Capital Management LP boosted its stake in Equinix by 21.5% during the first quarter. Brasada Capital Management LP now owns 4,020 shares of the financial services provider’s stock worth $1,681,000 after acquiring an additional 711 shares in the last quarter. Kempen Capital Management N.V. boosted its stake in Equinix by 226.5% during the first quarter. Kempen Capital Management N.V. now owns 15,245 shares of the financial services provider’s stock worth $6,374,000 after acquiring an additional 10,576 shares in the last quarter. Amalgamated Bank boosted its stake in Equinix by 11.0% during the first quarter. Amalgamated Bank now owns 11,397 shares of the financial services provider’s stock worth $4,766,000 after acquiring an additional 1,128 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in Equinix by 38,122.7% during the first quarter. Summit Trail Advisors LLC now owns 538,940 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 537,530 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Equinix traded down $1.97, reaching $426.24, during mid-day trading on Tuesday, Marketbeat.com reports. The stock had a trading volume of 333,700 shares, compared to its average volume of 667,106. Equinix has a 52-week low of $370.79 and a 52-week high of $495.35. The stock has a market capitalization of $34.16 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.41 and a beta of 0.45. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.53.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 23rd were paid a dividend of $2.28 per share. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Tuesday, May 22nd. Equinix’s payout ratio is 49.22%.
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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