Cowen and Company restated their outperform rating on shares of Equinix Inc. (NASDAQ:EQIX) in a research note issued to investors on Thursday. The firm currently has a $409.00 price target on the stock.
Several other research firms have also commented on EQIX. Oppenheimer Holdings Inc. raised shares of Equinix from a market perform rating to an outperform rating and set a $420.00 price target for the company in a report on Tuesday, September 6th. Jefferies Group reaffirmed a hold rating on shares of Equinix in a report on Tuesday, September 13th. Pacific Crest reaffirmed a buy rating on shares of Equinix in a report on Wednesday, August 24th. Goldman Sachs Group Inc. initiated coverage on shares of Equinix in a report on Tuesday, July 5th. They issued a buy rating and a $435.00 price target for the company. Finally, SunTrust Banks Inc. initiated coverage on shares of Equinix in a report on Thursday, July 21st. They issued a buy rating and a $445.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Equinix presently has an average rating of Buy and a consensus price target of $398.79.
Equinix (NASDAQ:EQIX) opened at 362.40 on Thursday. The firm has a market capitalization of $25.76 billion, a price-to-earnings ratio of 357.75 and a beta of 0.80. Equinix has a 12 month low of $255.45 and a 12 month high of $391.07. The firm’s 50-day moving average is $365.57 and its 200 day moving average is $355.80.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.64 by $3.08. Equinix had a net margin of 2.07% and a return on equity of 6.02%. The business earned $900.50 million during the quarter, compared to analyst estimates of $893.99 million. During the same period last year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was up 35.3% on a year-over-year basis. Equities analysts predict that Equinix will post $14.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th were given a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, August 22nd. Equinix’s dividend payout ratio (DPR) is currently 654.21%.
In other news, insider Karl Strohmeyer sold 2,143 shares of Equinix stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $369.76, for a total value of $792,395.68. Following the transaction, the insider now directly owns 2,550 shares of the company’s stock, valued at $942,888. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Schwartz sold 86 shares of Equinix stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $368.76, for a total transaction of $31,713.36. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Equinix by 7.7% in the second quarter. Vanguard Group Inc. now owns 11,437,858 shares of the company’s stock valued at $4,434,802,000 after buying an additional 820,887 shares during the period. State Street Corp increased its position in shares of Equinix by 10.2% in the first quarter. State Street Corp now owns 2,746,386 shares of the company’s stock worth $908,250,000 after buying an additional 254,160 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Equinix by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,062,846 shares of the company’s stock worth $799,827,000 after buying an additional 37,929 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Equinix by 3.4% in the second quarter. BlackRock Fund Advisors now owns 2,054,992 shares of the company’s stock worth $796,782,000 after buying an additional 67,814 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Equinix by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,621,381 shares of the company’s stock worth $628,659,000 after buying an additional 65,182 shares during the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.
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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