Equinix (NASDAQ:EQIX) had its price target lowered by BMO Capital Markets from $521.00 to $511.00 in a research note published on Friday, MarketBeat reports. The brokerage currently has a buy rating on the financial services provider’s stock.
Several other analysts also recently commented on the stock. MED cut their price objective on shares of Equinix to $460.00 and set a positive rating on the stock in a research report on Thursday, November 1st. Zacks Investment Research downgraded shares of Equinix from a hold rating to a sell rating in a report on Thursday, October 25th. Jefferies Financial Group reaffirmed a hold rating and set a $454.00 price target (down previously from $460.00) on shares of Equinix in a report on Tuesday, October 23rd. KeyCorp began coverage on shares of Equinix in a report on Tuesday, October 23rd. They set a sector weight rating on the stock. Finally, BidaskClub raised shares of Equinix from a sell rating to a hold rating in a report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $501.28.
Shares of EQIX stock opened at $396.46 on Friday. Equinix has a one year low of $370.79 and a one year high of $495.35. The stock has a market cap of $31.20 billion, a P/E ratio of 21.40, a PEG ratio of 1.30 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.29 and a debt-to-equity ratio of 1.54.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.47 by ($2.92). Equinix had a net margin of 6.46% and a return on equity of 7.70%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $3.63 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts forecast that Equinix will post 18.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 14th will be paid a $2.28 dividend. This represents a $9.12 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 49.22%.
In other news, insider Michael Earl Campbell sold 250 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $433.24, for a total value of $108,310.00. Following the transaction, the insider now owns 1,427 shares in the company, valued at approximately $618,233.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $431.65, for a total transaction of $863,300.00. Following the completion of the transaction, the chief financial officer now owns 21,141 shares in the company, valued at approximately $9,125,512.65. The disclosure for this sale can be found here. Insiders sold a total of 3,566 shares of company stock worth $1,528,778 in the last quarter. Company insiders own 0.51% of the company’s stock.
Several large investors have recently modified their holdings of the company. Reliance Trust Co. of Delaware lifted its stake in shares of Equinix by 8.1% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 1,662 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 124 shares during the period. Fieldpoint Private Securities LLC raised its stake in Equinix by 27.0% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 635 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 135 shares during the period. US Bancorp DE raised its stake in Equinix by 1.9% during the 3rd quarter. US Bancorp DE now owns 7,886 shares of the financial services provider’s stock worth $3,414,000 after acquiring an additional 144 shares during the period. Amica Retiree Medical Trust raised its stake in Equinix by 10.8% during the 2nd quarter. Amica Retiree Medical Trust now owns 1,497 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 146 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Equinix by 25.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 757 shares of the financial services provider’s stock worth $325,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 99.77% 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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