Equinix, Inc. (EQIX) Lowered to Buy at BidaskClub
BidaskClub cut shares of Equinix, Inc. (NASDAQ:EQIX) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.
A number of other brokerages also recently commented on EQIX. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $472.00 price objective (up previously from $440.00) on shares of Equinix in a research report on Thursday, May 4th. Royal Bank Of Canada reaffirmed a buy rating and issued a $470.00 price objective on shares of Equinix in a research report on Wednesday, May 31st. Jefferies Group LLC lifted their price objective on Equinix from $378.00 to $410.00 and gave the company a hold rating in a research report on Friday, April 28th. Cowen and Company lifted their price objective on Equinix from $453.00 to $465.00 and gave the company an outperform rating in a research report on Friday, April 28th. Finally, Credit Suisse Group started coverage on Equinix in a research report on Friday, June 30th. They issued an outperform rating and a $510.00 price objective for the company. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $464.78.
Shares of Equinix (NASDAQ:EQIX) traded down 0.25% during trading on Tuesday, hitting $438.39. The stock had a trading volume of 327,544 shares. The stock’s 50 day moving average is $437.63 and its 200-day moving average is $412.50. Equinix has a 12-month low of $314.55 and a 12-month high of $459.00.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, beating the Zacks’ consensus estimate of $3.41 by $1.18. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a return on equity of 5.51% and a net margin of 5.18%. On average, analysts forecast that Equinix will post $3.94 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, August 21st. Equinix’s dividend payout ratio is presently 293.04%.
In other Equinix news, Director Camp Peter Van sold 4,444 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 8,572 shares in the company, valued at $3,821,483.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen M. Smith sold 5,348 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $432.60, for a total value of $2,313,544.80. Following the transaction, the chief executive officer now owns 18,967 shares in the company, valued at approximately $8,205,124.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,143 shares of company stock worth $9,703,456. 0.58% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of EQIX. Cpcm LLC boosted its position in shares of Equinix by 0.4% in the first quarter. Cpcm LLC now owns 1,255 shares of the financial services provider’s stock worth $502,000 after buying an additional 5 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Equinix by 1.0% in the first quarter. Quadrant Capital Group LLC now owns 616 shares of the financial services provider’s stock worth $237,000 after buying an additional 6 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Equinix by 2.9% in the second quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock worth $112,000 after buying an additional 7 shares in the last quarter. Conning Inc. boosted its position in shares of Equinix by 0.6% in the second quarter. Conning Inc. now owns 1,550 shares of the financial services provider’s stock worth $665,000 after buying an additional 10 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Equinix by 2.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 593 shares of the financial services provider’s stock worth $237,000 after buying an additional 12 shares in the last quarter. Institutional investors own 95.31% 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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