J P Morgan Chase & Co upgraded shares of Equinix, Inc. (NASDAQ:EQIX) from a neutral rating to an overweight rating in a report released on Thursday, November 2nd, Marketbeat Ratings reports. J P Morgan Chase & Co currently has $550.00 target price on the financial services provider’s stock.
EQIX has been the topic of a number of other reports. Stifel Nicolaus reaffirmed a buy rating and issued a $497.00 price objective (up from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. BidaskClub raised shares of Equinix from a buy rating to a strong-buy rating in a research note on Monday, July 24th. UBS AG initiated coverage on shares of Equinix in a research note on Wednesday, October 18th. They issued a neutral rating on the stock. Deutsche Bank AG initiated coverage on shares of Equinix in a report on Tuesday, October 24th. They issued a buy rating and a $550.00 target price on the stock. Finally, Jefferies Group LLC reiterated a hold rating and issued a $440.00 target price on shares of Equinix in a report on Thursday, October 12th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $495.20.
Equinix (EQIX) opened at $481.05 on Thursday. Equinix has a 52 week low of $327.37 and a 52 week high of $495.35. The stock has a market cap of $37,874.50, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.95 and a beta of 0.46. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $2.24. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $3.95 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. equities research analysts predict that Equinix will post 16.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.66%. Equinix’s payout ratio is 264.03%.
In related news, Director Christopher B. Paisley sold 593 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $484.99, for a total value of $287,599.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl Strohmeyer sold 250 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $464.96, for a total transaction of $116,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,560 shares of company stock valued at $3,459,196. 0.58% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Equinix in the 3rd quarter valued at about $2,455,000. Highbridge Capital Management LLC grew its position in shares of Equinix by 47.2% in the 3rd quarter. Highbridge Capital Management LLC now owns 20,842 shares of the financial services provider’s stock valued at $9,302,000 after acquiring an additional 6,680 shares during the period. Zions Bancorporation grew its position in shares of Equinix by 2,550.0% in the 3rd quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 255 shares during the period. Caxton Associates LP bought a new position in shares of Equinix in the 3rd quarter valued at about $357,000. Finally, Chevy Chase Trust Holdings Inc. grew its position in shares of Equinix by 1.2% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 68,029 shares of the financial services provider’s stock valued at $30,361,000 after acquiring an additional 832 shares during the period. 95.09% of the stock is owned by 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.
Receive News & Ratings for Equinix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix Inc. and related companies with our FREE daily email newsletter.