Shares of Equinix Inc. (NASDAQ:EQIX) have been given a consensus rating of “Buy” by the twenty analysts that are currently covering the company. Seven equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $394.83.
A number of research firms have weighed in on EQIX. Cowen and Company reissued an “outperform” rating and issued a $409.00 target price on shares of Equinix in a research note on Thursday, September 22nd. Zacks Investment Research raised shares of Equinix from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Wednesday, September 14th. Jefferies Group reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 13th. Oppenheimer Holdings Inc. raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Tuesday, September 6th. Finally, Pacific Crest reissued a “buy” rating on shares of Equinix in a research note on Wednesday, August 24th.
In related news, insider Sara Baack sold 300 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $353.96, for a total value of $106,188.00. Following the completion of the sale, the insider now directly owns 6,004 shares of the company’s stock, valued at $2,125,175.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Charles J. Meyers sold 200 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $360.63, for a total transaction of $72,126.00. Following the completion of the sale, the chief operating officer now directly owns 1,445 shares of the company’s stock, valued at $521,110.35. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Equinix by 7.7% in the second quarter. Vanguard Group Inc. now owns 11,437,858 shares of the company’s stock worth $4,434,802,000 after buying an additional 820,887 shares during the period. State Street Corp boosted its stake in shares of Equinix by 10.2% in the first quarter. State Street Corp now owns 2,746,386 shares of the company’s stock worth $908,250,000 after buying an additional 254,160 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Equinix by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,062,846 shares of the company’s stock worth $799,827,000 after buying an additional 37,929 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Equinix by 3.4% in the second quarter. BlackRock Fund Advisors now owns 2,054,992 shares of the company’s stock worth $796,782,000 after buying an additional 67,814 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Equinix by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,621,381 shares of the company’s stock worth $628,659,000 after buying an additional 65,182 shares during the period. 99.86% of the stock is owned by hedge funds and other institutional investors.
Equinix (NASDAQ:EQIX) traded up 0.46% during mid-day trading on Friday, reaching $363.58. The company’s stock had a trading volume of 161,506 shares. The company has a market capitalization of $25.84 billion, a price-to-earnings ratio of 358.91 and a beta of 0.79. The stock has a 50-day moving average price of $361.77 and a 200-day moving average price of $358.64. Equinix has a one year low of $255.45 and a one year high of $391.07.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The business earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. During the same period last year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was up 35.3% compared to the same quarter last year. Equities research analysts forecast that Equinix will post $14.93 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th were paid a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.93%. Equinix’s payout ratio is currently 654.21%.
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.
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 MarketBeat.com's FREE daily email newsletter.