Equinix, Inc. (NASDAQ:EQIX) – Equities research analysts at Oppenheimer Holdings issued their FY2019 earnings per share (EPS) estimates for shares of Equinix in a report issued on Wednesday. Oppenheimer Holdings analyst T. Horan forecasts that the financial services provider will post earnings per share of $21.45 for the year. Oppenheimer Holdings currently has a “Outperform” rating and a $472.00 target price on the stock.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.41 by $2.83. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion.
A number of other research firms have also weighed in on EQIX. Royal Bank Of Canada restated a “buy” rating and set a $470.00 target price on shares of Equinix in a report on Wednesday, May 31st. Jefferies Group LLC upped their target price on Equinix from $378.00 to $410.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Cowen and Company upped their target price on Equinix from $453.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Credit Suisse Group started coverage on Equinix in a report on Friday, June 30th. They set an “outperform” rating and a $510.00 target price for the company. Finally, Barclays PLC restated a “hold” rating and set a $410.00 target price (up previously from $400.00) on shares of Equinix in a report on Friday, April 21st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $464.78.
Equinix (NASDAQ EQIX) traded down 0.1488% on Monday, reaching $443.5688. The company had a trading volume of 116,377 shares. Equinix has a 52 week low of $314.55 and a 52 week high of $455.37. The firm has a market capitalization of $34.56 billion, a P/E ratio of 162.8971 and a beta of 0.59.
Several institutional investors have recently added to or reduced their stakes in EQIX. Chevy Chase Trust Holdings Inc. increased its position in Equinix by 12.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 67,059 shares of the financial services provider’s stock valued at $26,848,000 after buying an additional 7,338 shares during the last quarter. Creative Planning increased its stake in shares of Equinix by 63.6% in the first quarter. Creative Planning now owns 692 shares of the financial services provider’s stock valued at $277,000 after buying an additional 269 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of Equinix by 4.4% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 17,256 shares of the financial services provider’s stock valued at $6,909,000 after buying an additional 734 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Equinix by 1.0% in the first quarter. Quadrant Capital Group LLC now owns 616 shares of the financial services provider’s stock valued at $237,000 after buying an additional 6 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Equinix by 14.5% in the first quarter. National Pension Service now owns 60,957 shares of the financial services provider’s stock valued at $24,208,000 after buying an additional 7,711 shares in the last quarter. 95.31% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Keith D. Taylor sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $440.99, for a total value of $440,990.00. Following the transaction, the chief financial officer now directly owns 36,296 shares of the company’s stock, valued at approximately $16,006,173.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 500 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $439.39, for a total value of $219,695.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,699 shares of company stock worth $7,722,276. 0.58% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, August 21st. Equinix’s payout ratio is 293.04%.
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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