Morgan Stanley Raises Equinix, Inc. (EQIX) Price Target to $435.00
Equinix, Inc. (NASDAQ:EQIX) had its price objective increased by Morgan Stanley from $424.00 to $435.00 in a research report sent to investors on Thursday morning. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.
Several other research analysts have also recently weighed in on EQIX. Royal Bank Of Canada reaffirmed a buy rating and set a $470.00 target price on shares of Equinix in a research note on Sunday, July 9th. Cowen and Company reaffirmed a buy rating on shares of Equinix in a research note on Friday, July 21st. BidaskClub raised Equinix from a buy rating to a strong-buy rating in a report on Monday, July 24th. Barclays PLC reaffirmed an equal weight rating and set a $475.00 target price (up from $410.00) on shares of Equinix in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $497.00 target price (up from $485.00) on shares of Equinix in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $495.20.
Shares of Equinix (NASDAQ EQIX) traded up $4.97 during mid-day trading on Thursday, reaching $491.62. The company had a trading volume of 397,390 shares, compared to its average volume of 379,176. The firm has a market cap of $38,072.43, a P/E ratio of 27.37, a PEG ratio of 1.95 and a beta of 0.46. The company has a quick ratio of 1.69, a current ratio of 2.11 and a debt-to-equity ratio of 1.51.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted $3.95 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. research analysts expect that Equinix will post 16.07 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, November 14th. Equinix’s dividend payout ratio is currently 264.03%.
In other news, insider Michael Earl Campbell sold 200 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $463.61, for a total transaction of $92,722.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl Strohmeyer sold 250 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $464.96, for a total value of $116,240.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,967 shares of company stock valued at $3,171,597. Company insiders own 0.58% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank raised its stake in shares of Equinix by 0.7% during the 3rd quarter. Comerica Bank now owns 33,973 shares of the financial services provider’s stock worth $15,618,000 after purchasing an additional 238 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Equinix by 7.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,493,095 shares of the financial services provider’s stock worth $666,367,000 after purchasing an additional 108,231 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Equinix by 3.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 85,148 shares of the financial services provider’s stock worth $38,877,000 after purchasing an additional 2,932 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Equinix by 3,927.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 32,464 shares of the financial services provider’s stock worth $14,489,000 after purchasing an additional 31,658 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Equinix by 0.6% during the 3rd quarter. Rhumbline Advisers now owns 148,128 shares of the financial services provider’s stock worth $66,110,000 after purchasing an additional 953 shares in the last quarter. 96.77% of the stock is owned by institutional investors.
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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