Credit Suisse Group reaffirmed their outperform rating on shares of Equinix, Inc. (NASDAQ:EQIX) in a research note released on Thursday, November 2nd. They currently have a $515.00 price objective on the financial services provider’s stock, up from their previous price objective of $510.00.
Other research analysts also recently issued reports about the company. Barclays PLC upgraded Equinix from an equal weight rating to an overweight rating and boosted their price target for the company from $475.00 to $505.00 in a report on Wednesday, October 18th. Royal Bank Of Canada boosted their price target on Equinix from $470.00 to $505.00 and gave the company an outperform rating in a report on Monday, August 7th. Cowen and Company restated a buy rating on shares of Equinix in a report on Friday, July 21st. BidaskClub upgraded Equinix from a buy rating to a strong-buy rating in a report on Thursday, August 24th. Finally, Citigroup Inc. upped their price objective on Equinix from $518.00 to $530.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $495.20.
Shares of Equinix (NASDAQ:EQIX) opened at $474.26 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. Equinix has a 52 week low of $327.37 and a 52 week high of $495.35. The company has a market capitalization of $36,920.00, a P/E ratio of 26.59, a PEG ratio of 1.90 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data 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 return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $3.95 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. research analysts expect that Equinix will post 16.05 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.69%. Equinix’s payout ratio is 259.74%.
In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $464.57, for a total value of $464,570.00. Following the sale, the chief financial officer now owns 32,096 shares in the company, valued at $14,910,838.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $438.46, for a total transaction of $657,690.00. Following the completion of the sale, the chief financial officer now owns 31,393 shares in the company, valued at approximately $13,764,574.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,760 shares of company stock worth $3,555,070. 0.58% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its stake in shares of Equinix by 11.1% in the third quarter. Public Employees Retirement System of Ohio now owns 59,458 shares of the financial services provider’s stock valued at $26,536,000 after purchasing an additional 5,947 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Equinix in the third quarter valued at approximately $1,172,000. IFM Investors Pty Ltd acquired a new stake in shares of Equinix in the third quarter valued at approximately $975,000. Alkeon Capital Management LLC increased its stake in shares of Equinix by 11.0% in the third quarter. Alkeon Capital Management LLC now owns 440,342 shares of the financial services provider’s stock valued at $196,524,000 after purchasing an additional 43,500 shares during the period. Finally, Piedmont Investment Advisors LLC increased its stake in shares of Equinix by 0.9% in the third quarter. Piedmont Investment Advisors LLC now owns 16,754 shares of the financial services provider’s stock valued at $7,477,000 after purchasing an additional 154 shares during the period. Institutional investors own 95.31% of the company’s stock.
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.
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