Equinix (EQIX) Posts Quarterly Earnings Results, Misses Estimates By $3.05 EPS
Equinix (NASDAQ:EQIX) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $3.87 by ($3.05), Briefing.com reports. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.08 EPS.
Shares of Equinix (EQIX) traded down $0.42 during midday trading on Thursday, reaching $435.83. The company’s stock had a trading volume of 879,300 shares, compared to its average volume of 687,116. Equinix has a fifty-two week low of $361.90 and a fifty-two week high of $495.35. The company has a market cap of $34,129.45, a P/E ratio of 143.84, a P/E/G ratio of 1.51 and a beta of 0.42. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51.
Several research firms have recently weighed in on EQIX. Credit Suisse Group reiterated a “buy” rating and set a $519.00 price target (down previously from $524.00) on shares of Equinix in a research note on Thursday. BidaskClub downgraded Equinix from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 25th. Oppenheimer increased their price target on Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. UBS Group upgraded Equinix from a “neutral” rating to a “buy” rating and set a $510.00 target price for the company in a research note on Monday, January 29th. Finally, Citigroup raised their target price on Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $504.05.
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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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