J P Morgan Chase & Co upgraded shares of Equinix, Inc. (NASDAQ:EQIX) from a neutral rating to an overweight rating in a report issued on Thursday morning. The firm currently has $550.00 target price on the financial services provider’s stock.
Several other research firms have also recently weighed in on EQIX. BidaskClub upgraded shares of Equinix from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. UBS AG began coverage on shares of Equinix in a research report on Wednesday, October 18th. They set a neutral rating for the company. Barclays PLC upgraded shares of Equinix from an equal weight rating to an overweight rating and increased their price objective for the stock from $475.00 to $505.00 in a research report on Wednesday, October 18th. Jefferies Group LLC reiterated a hold rating and set a $440.00 price objective on shares of Equinix in a research report on Thursday, October 12th. Finally, Deutsche Bank AG began coverage on shares of Equinix in a research report on Tuesday, October 24th. They set a buy rating and a $550.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $492.47.
Shares of Equinix (EQIX) traded up $19.59 during midday trading on Thursday, reaching $486.65. 464,702 shares of the company’s stock traded hands, compared to its average volume of 375,019. The company has a current ratio of 2.11, a quick ratio of 1.69 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $37,931.93, a price-to-earnings ratio of 27.37, a PEG ratio of 3.04 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $2.24. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company posted $3.95 earnings per share. Equinix’s revenue for the quarter was up 24.6% compared to the same quarter last year. equities research analysts expect that Equinix will post 16.07 earnings per share for the current fiscal year.
WARNING: “Equinix, Inc. (EQIX) Upgraded by J P Morgan Chase & Co to “Overweight”” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.com-unik.info/2017/11/04/equinix-inc-eqix-upgraded-by-j-p-morgan-chase-co-to-overweight.html.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 15th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, November 14th. Equinix’s dividend payout ratio (DPR) is 264.03%.
In other Equinix news, Director Camp Peter Van sold 4,444 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $445.81, for a total value of $1,981,179.64. Following the transaction, the director now directly owns 8,572 shares of the company’s stock, valued at $3,821,483.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl Strohmeyer sold 250 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $464.96, for a total transaction of $116,240.00. The disclosure for this sale can be found here. Insiders sold 11,411 shares of company stock worth $5,152,777 over the last ninety days. Insiders own 0.58% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC lifted its stake in shares of Equinix by 17.0% in the second quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock valued at $351,000 after buying an additional 119 shares in the last quarter. Nicholas Company Inc. purchased a new stake in shares of Equinix in the second quarter valued at about $3,201,000. Ameriprise Financial Inc. raised its holdings in shares of Equinix by 7.8% in the second quarter. Ameriprise Financial Inc. now owns 610,357 shares of the financial services provider’s stock valued at $261,747,000 after purchasing an additional 43,933 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Equinix by 1.1% in the second quarter. Prudential Financial Inc. now owns 110,757 shares of the financial services provider’s stock valued at $47,532,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Bank of Nova Scotia raised its holdings in shares of Equinix by 3.8% in the second quarter. Bank of Nova Scotia now owns 1,891 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 70 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other institutional investors.
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.
What are top analysts saying about Equinix Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Equinix Inc. and related companies.