Equinix, Inc. (EQIX) Given Average Rating of “Buy” by Brokerages

Equinix, Inc. (NASDAQ:EQIX) has received a consensus recommendation of “Buy” from the twenty-two ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $502.95.

A number of equities research analysts have recently commented on the company. Cowen reaffirmed a “buy” rating and set a $482.00 price target on shares of Equinix in a research report on Friday, November 10th. Barclays raised Equinix from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $475.00 to $505.00 in a research report on Wednesday, October 18th. UBS Group assumed coverage on Equinix in a research report on Wednesday, October 18th. They set a “neutral” rating on the stock. Credit Suisse Group set a $515.00 price target on Equinix and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. raised Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price target on the stock in a research report on Thursday, November 2nd.

Equinix (EQIX) opened at $453.22 on Monday. Equinix has a one year low of $353.48 and a one year high of $495.35. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $35,457.07, a PE ratio of 149.58, a price-to-earnings-growth ratio of 1.82 and a beta of 0.46.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $3.95 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. equities research analysts expect that Equinix will post 16.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, November 14th. Equinix’s dividend payout ratio is presently 264.03%.

In related news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $457.84, for a total value of $686,760.00. Following the sale, the chief financial officer now owns 26,196 shares of the company’s stock, valued at approximately $11,993,576.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Earl Campbell sold 200 shares of Equinix stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $463.61, for a total value of $92,722.00. The disclosure for this sale can be found here. In the last three months, insiders sold 6,193 shares of company stock worth $2,892,191. 0.58% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of EQIX. Capital World Investors grew 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 purchasing an additional 761,220 shares in the last quarter. Janus Henderson Group PLC grew 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 purchasing an additional 468,162 shares in the last quarter. Uniplan Investment Counsel Inc. bought a new position in Equinix in the second quarter valued at approximately $13,563,000. Egerton Capital UK LLP grew its stake in Equinix by 152.0% in the third quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock valued at $217,425,000 after purchasing an additional 293,842 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Equinix by 22.1% in the second quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock valued at $507,583,000 after purchasing an additional 214,396 shares in the last quarter. Hedge funds and other institutional investors own 94.16% of the company’s stock.

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About Equinix

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.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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