Equinix Inc. (EQIX) Given “Hold” Rating at Jefferies Group
A number of other brokerages also recently issued reports on EQIX. Zacks Investment Research raised shares of Equinix from a hold rating to a buy rating and set a $433.00 price objective for the company in a research report on Tuesday, July 5th. Goldman Sachs Group Inc. began coverage on shares of Equinix in a research report on Tuesday, July 5th. They set a buy rating and a $435.00 price objective for the company. SunTrust Banks Inc. began coverage on shares of Equinix in a research report on Thursday, July 21st. They set a buy rating and a $445.00 price objective for the company. Canaccord Genuity reissued a buy rating on shares of Equinix in a research report on Sunday, June 26th. Finally, William Blair reissued a buy rating on shares of Equinix in a research report on Sunday, June 26th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Equinix currently has an average rating of Buy and an average price target of $392.38.
Shares of Equinix (NASDAQ:EQIX) opened at 358.21 on Tuesday. Equinix has a 52-week low of $255.45 and a 52-week high of $391.07. The stock has a market cap of $25.46 billion, a P/E ratio of 353.61 and a beta of 0.80. The firm’s 50-day moving average price is $369.15 and its 200-day moving average price is $351.29.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.64 by $3.08. The company had revenue of $900.50 million for the quarter, compared to analysts’ expectations of $893.99 million. Equinix had a net margin of 2.07% and a return on equity of 6.02%. Equinix’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Equities analysts predict that Equinix will post $14.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Monday, August 22nd. Equinix’s dividend payout ratio (DPR) is currently 654.21%.
In related news, insider Karl Strohmeyer sold 2,143 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $369.76, for a total value of $792,395.68. Following the sale, the insider now directly owns 2,550 shares of the company’s stock, valued at approximately $942,888. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Schwartz sold 3,658 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $362.65, for a total transaction of $1,326,573.70. Following the completion of the sale, the insider now directly owns 4,733 shares in the company, valued at $1,716,422.45. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Equinix by 0.6% in the first quarter. IFP Advisors Inc now owns 310 shares of the company’s stock worth $103,000 after buying an additional 2 shares during the period. Cleararc Capital Inc. raised its stake in Equinix by 0.7% in the second quarter. Cleararc Capital Inc. now owns 1,703 shares of the company’s stock worth $660,000 after buying an additional 11 shares during the period. Paradigm Asset Management Co. LLC raised its stake in Equinix by 0.4% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,362 shares of the company’s stock worth $1,304,000 after buying an additional 12 shares during the period. Integrated Investment Consultants LLC raised its stake in Equinix by 5.6% in the second quarter. Integrated Investment Consultants LLC now owns 284 shares of the company’s stock worth $110,000 after buying an additional 15 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in Equinix by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,648 shares of the company’s stock worth $1,027,000 after buying an additional 18 shares during the period. 99.86% of the stock is currently owned by 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.
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