Equinix (NASDAQ:EQIX) Earns Overweight Rating from Analysts at Mitsubishi UFJ Financial Group

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Mitsubishi UFJ Financial Group began coverage on shares of Equinix (NASDAQ:EQIX) in a report released on Tuesday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $605.00 target price on the financial services provider’s stock. Mitsubishi UFJ Financial Group also issued estimates for Equinix’s Q3 2019 earnings at $4.85 EPS, Q4 2019 earnings at $4.90 EPS, FY2019 earnings at $20.58 EPS, Q1 2020 earnings at $5.42 EPS, Q2 2020 earnings at $5.47 EPS, Q3 2020 earnings at $5.61 EPS, Q4 2020 earnings at $5.84 EPS and FY2020 earnings at $22.35 EPS.

A number of other brokerages also recently commented on EQIX. JPMorgan Chase & Co. lifted their price objective on Equinix from $524.00 to $580.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. BMO Capital Markets reiterated a buy rating and set a $520.00 price objective on shares of Equinix in a research report on Tuesday, July 2nd. Wells Fargo & Co lifted their price objective on Equinix from $500.00 to $545.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. ValuEngine upgraded Equinix from a hold rating to a buy rating in a research report on Monday, August 12th. Finally, Guggenheim lifted their target price on Equinix from $505.00 to $540.00 and gave the company a sell rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $533.58.

Shares of Equinix stock opened at $538.88 on Tuesday. Equinix has a one year low of $335.29 and a one year high of $567.89. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.76 and a beta of 0.70. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.59 and a current ratio of 1.59. The business’s 50 day moving average price is $538.35 and its 200 day moving average price is $491.15.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the business posted $3.63 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Equinix will post 20.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a $2.46 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a yield of 1.83%. Equinix’s dividend payout ratio is currently 47.56%.

In other news, CAO Simon Miller sold 475 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $564.11, for a total value of $267,952.25. Following the completion of the sale, the chief accounting officer now directly owns 951 shares of the company’s stock, valued at $536,468.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles J. Meyers sold 1,928 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $558.57, for a total value of $1,076,922.96. Following the completion of the sale, the chief executive officer now directly owns 7,810 shares of the company’s stock, valued at $4,362,431.70. The disclosure for this sale can be found here. Insiders sold 12,409 shares of company stock worth $6,727,033 in the last 90 days. Company insiders own 0.49% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Equinix in the second quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in Equinix during the 2nd quarter worth $26,000. Carroll Financial Associates Inc. grew its stake in Equinix by 63.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 21 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Equinix during the 1st quarter worth $28,000. Finally, Johnson Financial Group Inc. acquired a new position in Equinix during the 2nd quarter worth $29,000. 98.41% of the stock is owned by institutional investors and hedge funds.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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