Cowen Reiterates “Buy” Rating for Equinix (NASDAQ:EQIX)

Cowen reaffirmed their buy rating on shares of Equinix (NASDAQ:EQIX) in a research note released on Friday, November 10th. The brokerage currently has a $482.00 price objective on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Barclays reaffirmed an equal weight rating and issued a $475.00 price target (up from $410.00) on shares of Equinix in a research report on Wednesday, August 9th. BidaskClub cut shares of Equinix from a strong-buy rating to a buy rating in a research note on Tuesday, August 8th. Royal Bank Of Canada increased their target price on shares of Equinix from $470.00 to $505.00 and gave the company an outperform rating in a research note on Monday, August 7th. J P Morgan Chase & Co upgraded shares of Equinix from a neutral rating to an overweight rating and set a $550.00 target price for the company in a research note on Thursday, November 2nd. Finally, Berenberg Bank initiated coverage on shares of Equinix in a research note on Tuesday, September 26th. They set a buy rating and a $550.00 price target for the company. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $495.20.

Equinix (NASDAQ EQIX) traded down $9.63 during trading on Friday, reaching $468.32. 420,100 shares of the company’s stock traded hands, compared to its average volume of 492,728. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $37,470.00, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 1.91 and a beta of 0.46. Equinix has a 52-week low of $327.37 and a 52-week high of $495.35.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $2.24. The firm 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 business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.95 earnings per share. equities research analysts forecast that Equinix will post 16.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, November 14th. Equinix’s dividend payout ratio is currently 259.74%.

In other news, Director Christopher B. Paisley sold 593 shares of Equinix stock in a transaction on Monday, November 6th. The shares were sold at an average price of $484.99, for a total transaction of $287,599.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Keith D. Taylor sold 2,000 shares of Equinix stock in a transaction on Monday, November 27th. The stock was sold at an average price of $476.81, for a total transaction of $953,620.00. Following the transaction, the chief financial officer now directly owns 27,996 shares in the company, valued at $13,348,772.76. The disclosure for this sale can be found here. Insiders have sold a total of 8,510 shares of company stock valued at $3,927,880 in the last ninety days. Company insiders own 0.58% of the company’s stock.

Large investors have recently modified their holdings of the business. Capital World Investors increased its stake in shares of Equinix by 247.0% during the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock worth $458,926,000 after purchasing an additional 761,220 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Equinix by 1,517.9% during the 2nd quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock worth $214,150,000 after purchasing an additional 468,162 shares in the last quarter. Uniplan Investment Counsel Inc. acquired a new position in shares of Equinix during the 2nd quarter worth approximately $13,563,000. Egerton Capital UK LLP lifted its holdings in shares of Equinix by 152.0% during the 3rd quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock worth $217,425,000 after acquiring an additional 293,842 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 22.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock worth $507,583,000 after acquiring an additional 214,396 shares during the period. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

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Equinix Company Profile

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.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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