Cowen and Company restated their buy rating on shares of Equinix, Inc. (NASDAQ:EQIX) in a research note issued to investors on Friday morning. The firm currently has a $482.00 price objective on the financial services provider’s stock.
Several other research firms have also recently weighed in on EQIX. Barclays PLC upgraded shares of Equinix from an equal weight rating to an overweight rating and raised their price objective for the company from $475.00 to $505.00 in a research report on Wednesday, October 18th. UBS AG initiated coverage on shares of Equinix in a research report on Wednesday, October 18th. They set a neutral rating on the stock. Jefferies Group LLC restated a hold rating and set a $440.00 price objective on shares of Equinix in a research report on Thursday, October 12th. Deutsche Bank AG initiated coverage on shares of Equinix in a research report on Tuesday, October 24th. They set a buy rating and a $550.00 price objective on the stock. Finally, Berenberg Bank initiated coverage on shares of Equinix in a research 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 issued a buy rating and one has assigned a strong buy rating to the stock. Equinix presently has an average rating of Buy and an average price target of $495.20.
Shares of Equinix (NASDAQ:EQIX) opened at $484.12 on Friday. Equinix has a 52 week low of $314.55 and a 52 week high of $495.35. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. The stock has a market cap of $37,725.07, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $2.24. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company posted $3.95 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. equities analysts anticipate that Equinix will post 16.05 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders 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 yield of 1.65%. The ex-dividend date of this dividend is Tuesday, November 14th. Equinix’s dividend payout ratio (DPR) is presently 264.03%.
In other news, insider Karl Strohmeyer sold 250 shares of Equinix stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $464.96, for a total transaction of $116,240.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $438.46, for a total transaction of $657,690.00. Following the sale, the chief financial officer now directly owns 31,393 shares in the company, valued at approximately $13,764,574.78. The disclosure for this sale can be found here. Insiders have sold a total of 7,560 shares of company stock worth $3,459,196 in the last ninety days. Insiders own 0.58% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EQIX. Atria Investments LLC boosted its stake in shares of Equinix by 5.6% during the 2nd quarter. Atria Investments LLC now owns 906 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 48 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Equinix by 6.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 5,089 shares of the financial services provider’s stock valued at $2,184,000 after purchasing an additional 303 shares in the last quarter. Exane Derivatives bought a new stake in shares of Equinix during the 2nd quarter valued at about $640,000. Nisa Investment Advisors LLC boosted its stake in shares of Equinix by 77.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,583 shares of the financial services provider’s stock valued at $6,280,000 after purchasing an additional 6,384 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its stake in shares of Equinix by 140.0% during the 2nd 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 purchasing an additional 1,400 shares in the last quarter. 95.09% of the stock is currently owned by hedge funds and other institutional investors.
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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