BidaskClub upgraded shares of Equinix (NASDAQ:EQIX) from a sell rating to a hold rating in a report released on Saturday.
Several other equities research analysts have also commented on the company. Mitsubishi UFJ Financial Group boosted their price objective on Equinix to $483.00 and gave the stock an overweight rating in a research note on Friday, August 17th. Deutsche Bank cut their price objective on Equinix from $550.00 to $540.00 and set a buy rating for the company in a research note on Thursday, May 31st. BMO Capital Markets cut their price objective on Equinix from $526.00 to $521.00 and set a buy rating for the company in a research note on Thursday, August 9th. ValuEngine lowered Equinix from a hold rating to a sell rating in a research note on Thursday, August 23rd. Finally, Zacks Investment Research lowered Equinix from a hold rating to a sell rating in a research note on Tuesday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the company. Equinix presently has an average rating of Buy and a consensus price target of $507.10.
NASDAQ:EQIX opened at $447.30 on Friday. Equinix has a 12 month low of $370.79 and a 12 month high of $495.35. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.60. The company has a market cap of $34.94 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.50 and a beta of 0.47.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.08). Equinix had a return on equity of 7.22% and a net margin of 5.71%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm posted $2.80 earnings per share. Equinix’s quarterly revenue was up 18.3% on a year-over-year basis. equities research analysts forecast that Equinix will post 18.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 22nd will be issued a dividend of $2.28 per share. This represents a $9.12 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Tuesday, August 21st. Equinix’s dividend payout ratio is currently 49.22%.
In other news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $442.49, for a total transaction of $663,735.00. Following the transaction, the chief financial officer now directly owns 22,741 shares in the company, valued at approximately $10,062,665.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Earl Campbell sold 500 shares of the company’s stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $420.00, for a total value of $210,000.00. Following the completion of the transaction, the insider now owns 1,927 shares in the company, valued at $809,340. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,316 shares of company stock worth $3,156,888. Insiders own 0.51% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Equinix by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 913,555 shares of the financial services provider’s stock valued at $392,728,000 after acquiring an additional 53,861 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Equinix by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 52,923 shares of the financial services provider’s stock valued at $22,751,000 after acquiring an additional 987 shares during the last quarter. CapWealth Advisors LLC lifted its holdings in Equinix by 1.3% in the second quarter. CapWealth Advisors LLC now owns 36,576 shares of the financial services provider’s stock valued at $15,724,000 after acquiring an additional 458 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Equinix by 425.3% in the second quarter. Qube Research & Technologies Ltd now owns 1,597 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 1,293 shares during the last quarter. Finally, HPM Partners LLC acquired a new position in Equinix in the second quarter valued at approximately $273,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 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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