Equinix has raised its dividend payment by an average of 8.0% per year over the last three years and has increased its dividend every year for the last 7 years. Equinix has a payout ratio of 120.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Equinix to earn $29.83 per share next year, which means the company should continue to be able to cover its $12.40 annual dividend with an expected future payout ratio of 41.6%.
Equinix Stock Down 0.7 %
Shares of NASDAQ EQIX opened at $722.19 on Friday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $66.83 billion, a PE ratio of 94.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.63. The stock’s fifty day simple moving average is $699.96 and its two-hundred day simple moving average is $652.69. Equinix has a 12-month low of $494.89 and a 12-month high of $776.35.
Equinix (NASDAQ:EQIX – Get Rating) last announced its earnings results on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.90 by ($4.51). The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. Equinix had a net margin of 9.70% and a return on equity of 6.46%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $6.22 EPS. As a group, analysts expect that Equinix will post 27.74 EPS for the current fiscal year.
Insider Buying and Selling at Equinix
In other Equinix news, insider Brandi Galvin Morandi sold 663 shares of Equinix stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $686.85, for a total transaction of $455,381.55. Following the completion of the transaction, the insider now owns 16,552 shares in the company, valued at approximately $11,368,741.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Charles J. Meyers sold 7,378 shares of Equinix stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $706.45, for a total value of $5,212,188.10. Following the completion of the transaction, the chief executive officer now owns 16,599 shares in the company, valued at approximately $11,726,363.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 663 shares of Equinix stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $686.85, for a total value of $455,381.55. Following the completion of the transaction, the insider now owns 16,552 shares of the company’s stock, valued at approximately $11,368,741.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,697 shares of company stock worth $11,770,596. Insiders own 0.32% of the company’s stock.
Hedge Funds Weigh In On Equinix
Several institutional investors and hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its stake in shares of Equinix by 10.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 16 shares in the last quarter. Financial Advocates Investment Management increased its stake in shares of Equinix by 6.4% in the 4th quarter. Financial Advocates Investment Management now owns 398 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 24 shares in the last quarter. KC Investment Advisors LLC increased its stake in shares of Equinix by 4.2% in the 1st quarter. KC Investment Advisors LLC now owns 1,003 shares of the financial services provider’s stock valued at $744,000 after purchasing an additional 40 shares in the last quarter. First Manhattan Co. increased its stake in shares of Equinix by 35.7% in the 4th quarter. First Manhattan Co. now owns 190 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 50 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in Equinix by 14.0% in the 1st quarter. Lido Advisors LLC now owns 416 shares of the financial services provider’s stock worth $308,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on EQIX. TD Securities increased their target price on Equinix from $750.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday. Citigroup lowered their price objective on Equinix from $810.00 to $750.00 in a research report on Sunday, November 13th. Cowen raised Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 price objective for the company in a research report on Tuesday, December 13th. Cowen raised Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 price objective for the company in a research report on Tuesday, December 13th. Finally, Oppenheimer raised their price objective on Equinix from $750.00 to $760.00 in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average target price of $778.53.
Equinix Company Profile
(Get Rating)
Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
Featured Articles
Receive News & Ratings for Equinix Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Equinix and related companies with MarketBeat.com’s FREE daily email newsletter.