Equinix (NASDAQ:EQIX – Free Report) had its price objective upped by Truist Financial from $915.00 to $935.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.
A number of other research firms have also commented on EQIX. Mizuho began coverage on shares of Equinix in a research report on Thursday, July 11th. They issued an outperform rating and a $873.00 price target on the stock. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Wells Fargo & Company upgraded Equinix from an equal weight rating to an overweight rating and lifted their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on Equinix in a report on Monday, July 1st. They set a buy rating and a $870.00 target price on the stock. Finally, Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a research report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $876.71.
Read Our Latest Report on EQIX
Equinix Stock Up 1.1 %
Equinix (NASDAQ:EQIX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 11.32% and a return on equity of 7.73%. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.04 EPS. Equities analysts forecast that Equinix will post 31.23 earnings per share for the current fiscal year.
Equinix Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 170.91%.
Institutional Investors Weigh In On Equinix
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. CNB Bank increased its stake in shares of Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the second quarter worth $30,000. LRI Investments LLC bought a new position in shares of Equinix during the first quarter worth $31,000. Meeder Asset Management Inc. acquired a new position in shares of Equinix in the 2nd quarter valued at $36,000. Finally, Rise Advisors LLC bought a new stake in shares of Equinix in the 1st quarter valued at $39,000. Institutional investors own 94.94% of the company’s stock.
About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
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