Cowen and Company restated their buy rating on shares of Equinix, Inc. (NASDAQ:EQIX) in a research note released on Friday. They currently have a $482.00 price target on the financial services provider’s stock.
Several other equities research analysts also recently commented on EQIX. BidaskClub raised shares of Equinix from a buy rating to a strong-buy rating in a report on Monday, July 24th. Barclays PLC reaffirmed an equal weight rating and set a $475.00 price objective (up from $410.00) on shares of Equinix in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a buy rating and set a $497.00 price objective (up from $485.00) on shares of Equinix in a report on Thursday, August 3rd. Royal Bank Of Canada upped their price objective on shares of Equinix from $470.00 to $505.00 and gave the company an outperform rating in a report on Monday, August 7th. Finally, Berenberg Bank started coverage on shares of Equinix in a report on Tuesday, September 26th. They set a buy rating and a $550.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $495.20.
Shares of Equinix (NASDAQ:EQIX) opened at $482.21 on Friday. The company has a market cap of $37,725.07, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Equinix has a fifty-two week low of $314.55 and a fifty-two week high of $495.35. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $2.24. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.95 earnings per share. equities research analysts anticipate that Equinix will post 16.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, November 14th. Equinix’s dividend payout ratio (DPR) is 264.03%.
In related news, insider Karl Strohmeyer sold 250 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $464.96, for a total value of $116,240.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Earl Campbell sold 200 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $463.61, for a total transaction of $92,722.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,560 shares of company stock worth $3,459,196. 0.58% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of EQIX. Atria Investments LLC increased its position in shares of Equinix by 5.6% in the second quarter. Atria Investments LLC now owns 906 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 48 shares during the last quarter. Gateway Investment Advisers LLC grew its position in Equinix by 6.3% during the second quarter. Gateway Investment Advisers LLC now owns 5,089 shares of the financial services provider’s stock valued at $2,184,000 after acquiring an additional 303 shares during the last quarter. Exane Derivatives bought a new position in Equinix during the second quarter valued at approximately $640,000. Nisa Investment Advisors LLC grew its position in Equinix by 77.9% during the second quarter. Nisa Investment Advisors LLC now owns 14,583 shares of the financial services provider’s stock valued at $6,280,000 after acquiring an additional 6,384 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its position in Equinix by 140.0% during the second quarter. Spirit of America Management Corp NY now owns 2,400 shares of the financial services provider’s stock valued at $1,030,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors own 95.09% 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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