Equinix (NASDAQ:EQIX) Given New $1,033.00 Price Target at Scotiabank

Equinix (NASDAQ:EQIX) had its price objective trimmed by Scotiabank from $1,114.00 to $1,033.00 in a report released on Thursday,Benzinga reports. The firm currently has a sector outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets lowered their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday. Stifel Nicolaus upped their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Barclays lifted their target price on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada boosted their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, TD Cowen raised their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $994.82.

Equinix Stock Down 1.3 %

NASDAQ:EQIX opened at $923.00 on Thursday. The stock has a market cap of $89.06 billion, a price-to-earnings ratio of 83.23, a PEG ratio of 2.23 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average price of $936.92 and a two-hundred day moving average price of $894.76. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. As a group, equities analysts expect that Equinix will post 31.09 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.03%. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is presently 199.30%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares in the company, valued at approximately $976,633. This represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,801 shares of company stock valued at $15,530,564 over the last 90 days. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equinix

A number of institutional investors have recently made changes to their positions in EQIX. Kestra Investment Management LLC bought a new position in shares of Equinix during the fourth quarter worth approximately $31,000. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC grew its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Equinix during the 4th quarter worth $39,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Equinix during the fourth quarter worth $42,000. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

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.