Barclays PLC upgraded shares of Equinix, Inc. (NASDAQ:EQIX) from an equal weight rating to an overweight rating in a report issued on Wednesday morning. The brokerage currently has $505.00 target price on the financial services provider’s stock, up from their prior target price of $475.00.
A number of other brokerages have also recently commented on EQIX. Jefferies Group LLC reaffirmed a hold rating and set a $440.00 price target on shares of Equinix in a research report on Thursday, October 12th. Berenberg Bank initiated coverage on Equinix in a research report on Tuesday, September 26th. They set a buy rating and a $550.00 price target for the company. BidaskClub raised Equinix from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Royal Bank Of Canada lifted their price target on Equinix from $470.00 to $505.00 and gave the stock an outperform rating in a research report on Monday, August 7th. Finally, Cowen and Company reaffirmed an outperform rating and set a $482.00 price target (up previously from $465.00) on shares of Equinix in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $473.61.
Shares of Equinix (EQIX) traded down 0.14% on Wednesday, hitting $470.55. The stock had a trading volume of 370,685 shares. Equinix has a 12 month low of $314.55 and a 12 month high of $475.28. The company has a market cap of $36.68 billion, a P/E ratio of 172.81 and a beta of 0.55. The company’s 50 day moving average price is $454.74 and its 200-day moving average price is $437.65.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.41 by $1.18. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. On average, analysts expect that Equinix will post $3.82 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $8.00 annualized dividend and a yield of 1.70%. Equinix’s dividend payout ratio (DPR) is currently 293.04%.
In related news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the completion of the transaction, the chief financial officer now directly owns 31,393 shares in the company, valued at $13,764,574.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Camp Peter Van sold 4,444 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $445.81, for a total value of $1,981,179.64. Following the completion of the transaction, the director now owns 8,572 shares of the company’s stock, valued at $3,821,483.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,911 shares of company stock valued at $4,469,647. 0.58% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its stake in Equinix by 4.6% during the first quarter. Teachers Advisors LLC now owns 404,889 shares of the financial services provider’s stock worth $162,105,000 after purchasing an additional 17,644 shares in the last quarter. Global X Management Co. LLC lifted its stake in Equinix by 21.0% during the first quarter. Global X Management Co. LLC now owns 737 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 128 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Equinix during the first quarter worth $1,447,000. Marshall Wace North America L.P. acquired a new position in Equinix during the first quarter worth $1,447,000. Finally, Dimensional Fund Advisors LP lifted its stake in Equinix by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,017,686 shares of the financial services provider’s stock worth $407,445,000 after purchasing an additional 79,417 shares in the last quarter. Institutional investors own 96.44% of the company’s stock.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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