Equinix, Inc. (NASDAQ:EQIX) Given Consensus Rating of “Buy” by Analysts

Equinix, Inc. (NASDAQ:EQIX) has received a consensus rating of “Buy” from the twenty-eight brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and six have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $1,004.65.

EQIX has been the topic of a number of recent analyst reports. TD Securities increased their price target on shares of Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Friday. Bank of America assumed coverage on shares of Equinix in a research report on Monday, May 19th. They issued a “buy” rating and a $1,000.00 price objective on the stock. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, May 1st.

Equinix Trading Down 0.4%

Shares of Equinix stock opened at $863.46 on Friday. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a market cap of $84.46 billion, a price-to-earnings ratio of 100.99, a PEG ratio of 1.78 and a beta of 0.97. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average price is $827.81 and its 200-day moving average price is $891.69.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the firm posted $8.86 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts expect that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio is 195.01%.

Insider Transactions at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director now directly owns 17,569 shares of the company’s stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. Norges Bank purchased a new stake in Equinix in the fourth quarter worth $1,067,270,000. GAMMA Investing LLC lifted its stake in Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock worth $725,957,000 after acquiring an additional 889,282 shares during the period. Nuveen LLC purchased a new stake in Equinix in the first quarter worth $662,663,000. Northern Trust Corp lifted its position in Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock valued at $1,399,042,000 after buying an additional 586,034 shares during the period. Finally, Wellington Management Group LLP lifted its position in Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after buying an additional 401,991 shares during the period. Hedge funds and other 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.