Equinix, Inc. (NASDAQ:EQIX) to Issue Dividend Increase – $5.16 Per Share

Equinix, Inc. (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, February 11th. Shareholders of record on Wednesday, February 25th will be given a dividend of 5.16 per share by the financial services provider on Wednesday, March 18th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, February 25th. This is a 10.0% increase from Equinix’s previous quarterly dividend of $4.69.

Equinix has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 10 years. Equinix has a dividend payout ratio of 118.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Equinix to earn $36.09 per share next year, which means the company should continue to be able to cover its $18.76 annual dividend with an expected future payout ratio of 52.0%.

Equinix Trading Up 1.3%

NASDAQ:EQIX opened at $867.52 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. Equinix has a one year low of $701.41 and a one year high of $953.41. The company has a market cap of $85.18 billion, a PE ratio of 79.44, a PEG ratio of 1.33 and a beta of 1.06. The firm has a 50-day moving average of $783.75 and a 200-day moving average of $787.35.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EQIX shares. The Goldman Sachs Group downgraded Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a research note on Thursday, December 18th. Truist Financial raised their price objective on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Guggenheim restated a “buy” rating and set a $985.00 target price on shares of Equinix in a research report on Thursday. Daiwa Securities Group set a $917.00 price target on shares of Equinix and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price objective on Equinix in a research report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $964.27.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.