Equinix, Inc. (EQIX) Receives New Coverage from Analysts at Berenberg Bank
Berenberg Bank began coverage on shares of Equinix, Inc. (NASDAQ:EQIX) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $550.00 target price on the financial services provider’s stock.
EQIX has been the topic of a number of other reports. Stifel Nicolaus reissued a buy rating and issued a $497.00 price target (up from $485.00) on shares of Equinix in a research report on Thursday, August 3rd. BidaskClub raised Equinix from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Barclays PLC reissued an equal weight rating and issued a $475.00 price target (up from $410.00) on shares of Equinix in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a buy rating and issued a $470.00 price target on shares of Equinix in a research report on Sunday, July 9th. Finally, Cowen and Company reissued an outperform rating and issued a $482.00 price target (up from $465.00) on shares of Equinix in a research report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $469.26.
Shares of Equinix (EQIX) traded up 1.04% during mid-day trading on Tuesday, hitting $446.30. The stock had a trading volume of 403,431 shares. Equinix has a 52-week low of $314.55 and a 52-week high of $475.28.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $1.18. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Equities analysts anticipate that Equinix will post $3.83 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $8.00 dividend on an annualized basis and a yield of 1.79%. Equinix’s dividend payout ratio is presently 293.04%.
In other Equinix news, insider Karl Strohmeyer sold 250 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $436.12, for a total transaction of $436,120.00. Following the sale, the chief financial officer now owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,711 shares of company stock valued at $4,813,045. Company insiders own 0.58% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Equinix by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock valued at $5,279,456,000 after buying an additional 1,192,961 shares during the last quarter. BlackRock Inc. raised its stake in Equinix by 3,737.0% during the 1st quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock valued at $2,520,566,000 after buying an additional 6,131,516 shares during the last quarter. State Street Corp raised its stake in Equinix by 5.2% during the 1st quarter. State Street Corp now owns 3,007,201 shares of the financial services provider’s stock valued at $1,204,001,000 after buying an additional 149,260 shares during the last quarter. FMR LLC raised its stake in Equinix by 0.4% during the 2nd quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock valued at $1,174,868,000 after buying an additional 10,307 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Equinix by 5.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,909,287 shares of the financial services provider’s stock valued at $763,459,000 after buying an additional 102,082 shares during the last quarter. Institutional investors and hedge funds own 94.36% of the company’s stock.
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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