Equinix, Inc. (EQIX) Price Target Raised to $530.00 at Citigroup Inc.
Equinix, Inc. (NASDAQ:EQIX) had its target price increased by Citigroup Inc. from $518.00 to $530.00 in a report issued on Thursday. Citigroup Inc. currently has a buy rating on the financial services provider’s stock.
A number of other equities research analysts also recently commented on EQIX. Royal Bank Of Canada reiterated a buy rating and set a $470.00 price objective on shares of Equinix in a research report on Sunday, July 9th. Cowen and Company reiterated a buy rating on shares of Equinix in a research report on Friday, July 21st. BidaskClub upgraded Equinix from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Barclays PLC reiterated an equal weight rating and set a $475.00 price objective (up previously from $410.00) on shares of Equinix in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a buy rating and set a $497.00 price objective (up previously from $485.00) on shares of Equinix in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $492.47.
Shares of Equinix (NASDAQ EQIX) traded down $2.03 during midday trading on Thursday, reaching $486.65. The company’s stock had a trading volume of 464,702 shares, compared to its average volume of 375,019. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.69 and a current ratio of 2.11. The stock has a market capitalization of $37,931.93, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 3.04 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $2.24. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company posted $3.95 EPS. equities research analysts forecast that Equinix will post 16.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.64%. Equinix’s dividend payout ratio is 264.03%.
In related news, Director Camp Peter Van sold 4,444 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $445.81, for a total transaction of $1,981,179.64. Following the completion of the sale, the director now directly owns 8,572 shares in the company, valued at $3,821,483.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Earl Campbell sold 200 shares of the stock in a transaction on Monday, October 16th. The stock was 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. Over the last quarter, insiders have sold 11,411 shares of company stock valued at $5,152,777. 0.58% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of EQIX. Bank of Nova Scotia increased its position in Equinix by 14.6% during the first quarter. Bank of Nova Scotia now owns 1,821 shares of the financial services provider’s stock worth $729,000 after buying an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Equinix by 22.2% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,650 shares of the financial services provider’s stock worth $708,000 after buying an additional 300 shares during the last quarter. Capstone Asset Management Co. increased its position in Equinix by 5.9% during the second quarter. Capstone Asset Management Co. now owns 6,574 shares of the financial services provider’s stock worth $2,821,000 after buying an additional 364 shares during the last quarter. Atria Investments LLC increased its position in Equinix by 5.6% during the second quarter. Atria Investments LLC now owns 906 shares of the financial services provider’s stock worth $389,000 after buying an additional 48 shares during the last quarter. Finally, Kissinger Financial Services LLC increased its position in Equinix by 3.7% during the second quarter. Kissinger Financial Services LLC now owns 2,272 shares of the financial services provider’s stock worth $975,000 after buying an additional 82 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other 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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