Equinix, Inc. (NASDAQ:EQIX) announced its earnings results on Wednesday. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $2.24, Bloomberg Earnings reports. Equinix had a net margin of 5.58% and a return on equity of 5.77%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $3.95 earnings per share. Equinix’s revenue was up 24.6% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, November 14th. Equinix’s dividend payout ratio is currently 264.03%.

In related news, insider Karl Strohmeyer sold 250 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $464.96, for a total transaction of $116,240.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $464.57, for a total transaction of $464,570.00. Following the transaction, the chief financial officer now directly owns 32,096 shares in the company, valued at $14,910,838.72. The disclosure for this sale can be found here. Insiders have sold 11,411 shares of company stock worth $5,152,777 over the last ninety days. 0.58% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “Equinix, Inc. (EQIX) Announces Earnings Results, Beats Expectations By $2.24 EPS” was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/equinix-inc-eqix-announces-earnings-results-beats-expectations-by-2-24-eps/1675519.html.

A number of analysts recently issued reports on the stock. Citigroup Inc. raised their target price on shares of Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer Holdings, Inc. raised their target price on shares of Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley raised their target price on shares of Equinix from $424.00 to $435.00 and gave the stock an “equal weight” rating in a research report on Thursday. Credit Suisse Group restated an “outperform” rating and set a $515.00 target price (up previously from $510.00) on shares of Equinix in a research report on Thursday. Finally, Deutsche Bank AG assumed coverage on shares of Equinix in a research report on Tuesday, October 24th. They set a “buy” rating and a $550.00 target price on the stock. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $492.47.

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.

Earnings History for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.