ValuEngine lowered shares of Equinix (NASDAQ:EQIX) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.
Other equities analysts also recently issued reports about the company. UBS Group lifted their target price on Equinix from $510.00 to $560.00 and gave the company a buy rating in a research note on Thursday. BidaskClub downgraded Equinix from a hold rating to a sell rating in a research report on Tuesday. Royal Bank of Canada boosted their price objective on Equinix from $500.00 to $520.00 and gave the stock an outperform rating in a research report on Monday, May 6th. Zacks Investment Research upgraded Equinix from a sell rating to a hold rating in a research report on Wednesday, May 8th. Finally, Nomura boosted their price objective on Equinix from $505.00 to $575.00 and gave the stock a buy rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $527.21.
EQIX stock traded up $1.34 during midday trading on Thursday, reaching $524.09. The company had a trading volume of 580,373 shares, compared to its average volume of 316,867. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s 50 day moving average price is $509.10. Equinix has a fifty-two week low of $335.29 and a fifty-two week high of $533.08. The stock has a market cap of $40.60 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.74 and a beta of 0.73.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). Equinix had a net margin of 9.29% and a return on equity of 6.53%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm earned $3.63 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Equinix will post 20.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a dividend of $2.46 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $9.84 annualized dividend and a yield of 1.88%. Equinix’s payout ratio is 47.56%.
In related news, Director Christopher B. Paisley sold 200 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $487.88, for a total transaction of $97,576.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $490.87, for a total value of $613,587.50. Following the sale, the insider now directly owns 2,578 shares in the company, valued at approximately $1,265,462.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,450 shares of company stock worth $1,202,784. 0.49% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Equinix by 10.6% in the first quarter. BlackRock Inc. now owns 6,584,484 shares of the financial services provider’s stock valued at $2,983,823,000 after buying an additional 632,328 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Equinix by 23.6% in the first quarter. Daiwa Securities Group Inc. now owns 1,314,451 shares of the financial services provider’s stock valued at $595,656,000 after buying an additional 250,921 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Equinix by 24.2% in the first quarter. Pictet Asset Management Ltd. now owns 628,200 shares of the financial services provider’s stock valued at $284,675,000 after buying an additional 122,286 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Equinix by 10.2% in the first quarter. Clearbridge Investments LLC now owns 1,219,458 shares of the financial services provider’s stock valued at $552,610,000 after buying an additional 112,564 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Equinix by 11.7% in the first quarter. American Century Companies Inc. now owns 1,046,494 shares of the financial services provider’s stock valued at $474,229,000 after buying an additional 109,404 shares in the last quarter. 99.65% of the stock is currently owned by hedge funds and other institutional investors.
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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