Equinix, Inc. (EQIX) Receives Average Rating of “Buy” from Brokerages
Equinix, Inc. (NASDAQ:EQIX) has been assigned a consensus rating of “Buy” from the twenty-one brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $500.74.
Several analysts recently issued reports on the company. Barclays reissued an “equal weight” rating and issued a $475.00 price target (up previously from $410.00) on shares of Equinix in a report on Wednesday, August 9th. Credit Suisse Group reissued an “outperform” rating and issued a $515.00 price target (up previously from $510.00) on shares of Equinix in a report on Thursday, November 2nd. Berenberg Bank assumed coverage on Equinix in a report on Tuesday, September 26th. They issued a “buy” rating and a $550.00 price target on the stock. J P Morgan Chase & Co raised Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price target on the stock in a report on Thursday, November 2nd. Finally, Deutsche Bank assumed coverage on Equinix in a report on Tuesday, October 24th. They issued a “buy” rating and a $550.00 price target on the stock.
In related news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the sale, the chief financial officer now directly owns 31,393 shares in the company, valued at approximately $13,764,574.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 $13,348,772.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,993 shares of company stock worth $2,770,635. 0.58% of the stock is owned by insiders.
Equinix (NASDAQ EQIX) opened at $450.24 on Thursday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. Equinix has a 1-year low of $327.37 and a 1-year high of $495.35. The company has a market capitalization of $34,860.15, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.79 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last released its earnings results 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 for the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. Equinix’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.95 EPS. sell-side analysts expect that Equinix will post 16.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, November 14th. Equinix’s dividend payout ratio is currently 264.03%.
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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