Equinix, Inc. (EQIX) To Go Ex-Dividend on November 18th

Equinix, Inc. (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, October 28th. Investors of record on Wednesday, November 18th will be paid a dividend of $5.16 per share by the financial services provider on Wednesday, December 16th. This represents a $20.64 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, November 18th.

Equinix has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Equinix has a payout ratio of 130.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Equinix to earn $42.48 per share next year, which means the company should continue to be able to cover its $20.64 annual dividend with an expected future payout ratio of 48.6%.

Equinix Stock Up 2.9%

EQIX opened at $1,036.67 on Friday. The business has a 50 day moving average price of $1,023.65 and a two-hundred day moving average price of $1,006.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. The company has a market cap of $102.29 billion, a PE ratio of 23.37, a P/E/G ratio of 1.44 and a beta of 0.98. Equinix has a 52 week low of $720.62 and a 52 week high of $1,128.68.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, beating the consensus estimate of $4.11 by $0.82. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. Equinix had a return on equity of 11.55% and a net margin of 16.38%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $9.83 EPS. As a group, research analysts anticipate that Equinix will post 38.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HSBC lowered their price objective on shares of Equinix from $1,400.00 to $1,380.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Truist Financial upped their price objective on shares of Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,211.00 target price on shares of Equinix in a report on Thursday. Finally, Canadian Imperial Bank of Commerce assumed coverage on shares of Equinix in a research note on Tuesday, October 20th. They set an “outperform” rating and a $1,200.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,226.97.

Equinix Company Profile

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.