Equinix (NASDAQ:EQIX) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Equinix (NASDAQ:EQIX) in a research note released on Thursday morning,Benzinga reports. JMP Securities currently has a $1,200.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also commented on EQIX. Scotiabank dropped their target price on Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Equinix from $975.00 to $935.00 and set an “overweight” rating for the company in a research note on Thursday. Cowen reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, May 1st. TD Securities raised their target price 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. Finally, Mizuho decreased their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix has an average rating of “Buy” and an average price target of $977.30.

Equinix Price Performance

Shares of EQIX opened at $745.53 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The company’s fifty day moving average price is $867.36 and its 200-day moving average price is $882.41. Equinix has a 1-year low of $701.41 and a 1-year high of $994.03. The firm has a market capitalization of $72.93 billion, a PE ratio of 77.50, a price-to-earnings-growth ratio of 1.07 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.86 EPS. On average, equities research analysts predict that Equinix will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.52%. Equinix’s dividend payout ratio is currently 195.01%.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer now directly owns 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider’s stock worth $10,523,576,000 after purchasing an additional 242,121 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Equinix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock worth $2,269,037,000 after buying an additional 62,005 shares in the last quarter. FMR LLC boosted its position in Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after acquiring an additional 81,144 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider’s stock worth $1,793,429,000 after acquiring an additional 14,294 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Equinix by 28.7% during the 4th 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 acquiring an additional 401,991 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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.