BidaskClub cut shares of Equinix, Inc. (NASDAQ:EQIX) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday, August 8th.
EQIX has been the topic of a number of other research reports. Mitsubishi UFJ Financial Group started coverage on shares of Equinix in a report on Tuesday, April 25th. They issued an overweight rating and a $433.00 price target on the stock. Zacks Investment Research lowered shares of Equinix from a buy rating to a hold rating in a report on Tuesday, April 18th. Cowen and Company lifted their price target on shares of Equinix from $453.00 to $465.00 and gave the company an outperform rating in a report on Friday, April 28th. Jefferies Group LLC lifted their price target on shares of Equinix from $378.00 to $410.00 and gave the company a hold rating in a report on Friday, April 28th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $465.00 price target (up previously from $435.00) on shares of Equinix in a report on Tuesday, April 25th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $464.78.
Shares of Equinix (NASDAQ:EQIX) opened at 450.00 on Tuesday. Equinix has a 12 month low of $314.55 and a 12 month high of $459.00.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.41 by $1.18. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. Equities analysts anticipate that Equinix will post $3.90 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, August 21st. Equinix’s dividend payout ratio (DPR) is 293.04%.
In related news, insider Yau Tat Lee sold 5,875 shares of Equinix stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $438.70, for a total transaction of $2,577,362.50. Following the sale, the insider now owns 5,485 shares of the company’s stock, valued at approximately $2,406,269.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $440.99, for a total transaction of $440,990.00. Following the sale, the chief financial officer now directly owns 36,296 shares in the company, valued at approximately $16,006,173.04. The disclosure for this sale can be found here. Insiders have sold a total of 22,143 shares of company stock worth $9,703,456 in the last ninety days. 0.58% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in EQIX. BlackRock Inc. increased its stake in Equinix by 3,737.0% in the first quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock valued at $2,520,566,000 after buying an additional 6,131,516 shares during the last quarter. Vanguard Group Inc. increased its stake in Equinix by 9.9% in the first quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock valued at $5,279,456,000 after buying an additional 1,192,961 shares during the last quarter. Capital World Investors increased its stake in Equinix by 247.0% in the second quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after buying an additional 761,220 shares during the last quarter. Janus Henderson Group PLC increased its stake in Equinix by 1,517.9% in the second quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock valued at $214,150,000 after buying an additional 468,162 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. bought a new stake in Equinix during the second quarter valued at $13,563,000. 95.16% 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.
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