Q4 2018 EPS Estimates for Equinix, Inc. (EQIX) Reduced by SunTrust Banks
Equinix, Inc. (NASDAQ:EQIX) – Equities researchers at SunTrust Banks dropped their Q4 2018 earnings per share (EPS) estimates for Equinix in a research report issued on Wednesday. SunTrust Banks analyst G. Miller now expects that the financial services provider will post earnings of $4.81 per share for the quarter, down from their previous forecast of $4.82.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $2.24. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. Equinix’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.95 earnings per share.
A number of other equities analysts also recently issued reports on the company. Cowen reaffirmed a “buy” rating and set a $482.00 price target on shares of Equinix in a research report on Friday, November 10th. Barclays raised Equinix from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $475.00 to $505.00 in a research report on Wednesday, October 18th. UBS initiated coverage on shares of Equinix in a report on Wednesday, October 18th. They set a “neutral” rating on the stock. J P Morgan Chase & Co raised shares of Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price objective on the stock in a report on Thursday, November 2nd. Finally, Nomura boosted their price objective on shares of Equinix from $490.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Equinix has an average rating of “Buy” and a consensus target price of $501.70.
Shares of Equinix (NASDAQ EQIX) traded up $1.07 during trading hours on Monday, reaching $451.28. 638,510 shares of the company were exchanged, compared to its average volume of 491,994. The company has a market capitalization of $35,220.00, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.81 and a beta of 0.46. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. Equinix has a 52 week low of $347.99 and a 52 week high of $495.35.
Hedge funds have recently added to or reduced their stakes in the business. Forsta AP Fonden increased its holdings in shares of Equinix by 33.8% during the 3rd quarter. Forsta AP Fonden now owns 30,100 shares of the financial services provider’s stock worth $13,434,000 after buying an additional 7,600 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of Equinix by 17.0% during the 2nd quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 119 shares during the period. Amica Pension Fund Board of Trustees purchased a new position in shares of Equinix during the 3rd quarter worth approximately $1,235,000. Honeywell International Inc. boosted its position in shares of Equinix by 30.0% during the 3rd quarter. Honeywell International Inc. now owns 22,253 shares of the financial services provider’s stock worth $9,932,000 after purchasing an additional 5,139 shares during the period. Finally, Nicholas Company Inc. purchased a new position in shares of Equinix during the 2nd quarter worth approximately $3,201,000. Institutional investors own 94.34% of the company’s stock.
In other Equinix news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $476.81, for a total value of $953,620.00. Following the completion of the sale, the chief financial officer now owns 27,996 shares in the company, valued at approximately $13,348,772.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Earl Campbell sold 200 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $463.61, for a total transaction of $92,722.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,993 shares of company stock valued at $2,770,635. Insiders own 0.58% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.77%. Equinix’s dividend payout ratio (DPR) is presently 259.74%.
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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