Credit Suisse Group set a $515.00 target price on Equinix (NASDAQ:EQIX) in a research note issued to investors on Tuesday morning. The brokerage currently has a buy rating on the financial services provider’s stock.
“We will be presenting at the New England & Boston Data Center Conference through CAPRATE Media on December 12, 2017, at Harvard University in Cambridge, MA, as the keynote speaker on the state of the data center industry. Our presentation, 2018 Data Center Drivers – Enablers Boosting Enterprise Cloud, highlights three key points for robust enterprise cloud adoption and data market strength in 2018.”,” Credit Suisse Group’s analyst commented.
Several other brokerages have also recently weighed in on EQIX. Berenberg Bank reissued a buy rating and set a $550.00 price objective on shares of Equinix in a research note on Friday, November 3rd. Zacks Investment Research raised Equinix from a hold rating to a buy rating and set a $547.00 price objective on the stock in a research note on Monday, November 6th. Cowen reissued a buy rating and set a $482.00 price objective on shares of Equinix in a research note on Friday, November 10th. Oppenheimer boosted their price objective on Equinix from $472.00 to $500.00 and gave the stock an outperform rating in a research note on Thursday, November 2nd. Finally, Morgan Stanley boosted their price objective on Equinix from $424.00 to $435.00 and gave the stock an equal weight rating in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $501.70.
Equinix (NASDAQ:EQIX) last issued 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 return on equity of 5.59% and a net margin of 5.58%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $3.95 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. equities analysts predict that Equinix will post 16.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.78%. Equinix’s payout ratio is 264.03%.
In related news, insider Michael Earl Campbell sold 200 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $463.61, for a total value of $92,722.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 593 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $484.99, for a total value of $287,599.07. The disclosure for this sale can be found here. Insiders sold 5,993 shares of company stock valued at $2,770,635 in the last quarter. 0.58% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. lifted its holdings in Equinix by 145.0% during the second quarter. Bessemer Group Inc. now owns 1,247 shares of the financial services provider’s stock worth $535,000 after buying an additional 738 shares during the period. Global X Management Co. LLC lifted its holdings in Equinix by 27.0% during the second quarter. Global X Management Co. LLC now owns 936 shares of the financial services provider’s stock worth $402,000 after buying an additional 199 shares during the period. Teacher Retirement System of Texas lifted its holdings in Equinix by 8.0% during the second quarter. Teacher Retirement System of Texas now owns 806 shares of the financial services provider’s stock worth $346,000 after buying an additional 60 shares during the period. Conning Inc. lifted its holdings in Equinix by 0.6% during the second quarter. Conning Inc. now owns 1,550 shares of the financial services provider’s stock worth $665,000 after buying an additional 10 shares during the period. Finally, Dupont Capital Management Corp lifted its holdings in Equinix by 59.3% during the second quarter. Dupont Capital Management Corp now owns 17,286 shares of the financial services provider’s stock worth $7,418,000 after buying an additional 6,433 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.
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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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