Equinix (EQIX) Receives Buy Rating from Bank of America
Bank of America reissued their buy rating on shares of Equinix (NASDAQ:EQIX) in a report published on Wednesday. Bank of America currently has a $520.00 price target on the financial services provider’s stock, up from their prior price target of $450.21.
A number of other analysts have also recently commented on EQIX. BidaskClub upgraded Equinix from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Credit Suisse Group set a $515.00 price objective on Equinix and gave the company a buy rating in a research report on Tuesday, December 12th. Oppenheimer boosted their price objective on Equinix from $472.00 to $500.00 and gave the company an outperform rating in a research report on Thursday, November 2nd. Berenberg Bank assumed coverage on Equinix in a research report on Tuesday, September 26th. They issued a buy rating and a $550.00 price objective for the company. Finally, Citigroup boosted their price objective on Equinix from $518.00 to $530.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Equinix presently has an average rating of Buy and a consensus target price of $501.70.
Equinix (NASDAQ:EQIX) opened at $457.85 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $35,819.44, a P/E ratio of 25.75, a P/E/G ratio of 1.84 and a beta of 0.46. Equinix has a 12-month low of $347.99 and a 12-month high of $495.35.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $2.24. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.95 earnings per share. equities analysts predict that Equinix will post 16.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, November 14th. Equinix’s dividend payout ratio is presently 264.03%.
In other Equinix news, insider Michael Earl Campbell sold 200 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $463.61, for a total transaction of $92,722.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 593 shares of the business’s stock in a transaction on Monday, November 6th. The stock was 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 7,493 shares of company stock worth $3,457,395 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC boosted its stake in Equinix by 2.9% during the second quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock worth $112,000 after buying an additional 7 shares during the last quarter. Zions Bancorporation boosted its stake in Equinix by 2,550.0% during the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after buying an additional 255 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new position in Equinix during the second quarter worth $127,000. Amica Retiree Medical Trust acquired a new position in Equinix during the third quarter worth $188,000. Finally, Commerce Bank acquired a new position in Equinix during the third quarter worth $203,000. 94.34% of the stock is currently owned by institutional investors.
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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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