Equinix (NASDAQ:EQIX) had its price target lifted by Oppenheimer from $500.00 to $550.00 in a report released on Thursday, The Fly reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Equinix from a sell rating to a hold rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. raised their price target on Equinix from $524.00 to $580.00 and gave the stock an overweight rating in a report on Thursday. Raymond James raised their price target on Equinix from $520.00 to $560.00 and gave the stock a strong-buy rating in a report on Thursday. Guggenheim raised their price target on Equinix from $505.00 to $540.00 and gave the stock a sell rating in a report on Tuesday, July 2nd. Finally, Citigroup raised their price target on Equinix from $508.00 to $527.00 and gave the stock a buy rating in a report on Thursday, May 2nd. 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 given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $527.21.
NASDAQ EQIX traded down $7.02 during trading on Thursday, hitting $517.07. The company’s stock had a trading volume of 3,217 shares, compared to its average volume of 352,871. The company has a current ratio of 1.59, a quick ratio of 1.56 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $42.38 billion, a P/E ratio of 24.98, a PEG ratio of 1.82 and a beta of 0.73. The firm’s 50 day moving average is $509.10. Equinix has a fifty-two week low of $335.29 and a fifty-two week high of $533.08.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $5.14 by ($3.45). The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. Equinix had a return on equity of 6.29% and a net margin of 9.29%. Equinix’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.63 EPS. On average, research analysts forecast that Equinix will post 20.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $2.46 dividend. This represents a $9.84 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 20th. Equinix’s payout ratio is 47.56%.
In other news, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $487.88, for a total value of $97,576.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Earl Campbell sold 1,000 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $491.62, for a total value of $491,620.00. Following the transaction, the insider now owns 2,578 shares of the company’s stock, valued at $1,267,396.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,450 shares of company stock valued at $1,202,784. Company insiders own 0.49% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EQIX. BlackRock Inc. raised its position in Equinix by 10.6% during 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 acquiring an additional 632,328 shares in the last quarter. Daiwa Securities Group Inc. increased its position 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 position 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 boosted its stake 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 worth $552,610,000 after acquiring an additional 112,564 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake 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 worth $474,229,000 after acquiring an additional 109,404 shares during the last quarter. Institutional investors own 98.03% of the company’s stock.
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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