Equinix, Inc. (NASDAQ:EQIX) has been given an average recommendation of “Buy” by the twenty analysts that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $465.59.
Several analysts have recently commented on EQIX shares. Zacks Investment Research downgraded Equinix from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Barclays PLC reissued a “hold” rating and issued a $410.00 price objective (up from $400.00) on shares of Equinix in a research note on Friday, April 21st. Mitsubishi UFJ Financial Group assumed coverage on Equinix in a research note on Tuesday, April 25th. They issued an “overweight” rating and a $433.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $465.00 price target (up from $435.00) on shares of Equinix in a research report on Tuesday, April 25th. Finally, Citigroup Inc. increased their price target on Equinix from $435.00 to $462.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th.
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In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $440.99, for a total transaction of $440,990.00. Following the sale, the chief financial officer now owns 36,296 shares in the company, valued at $16,006,173.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yau Tat Lee sold 5,875 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $438.70, for a total value of $2,577,362.50. Following the sale, the insider now owns 5,485 shares in the company, valued at approximately $2,406,269.50. The disclosure for this sale can be found here. Insiders have sold 22,143 shares of company stock valued at $9,703,456 in the last three months. 0.58% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dodge & Cox bought a new position in Equinix during the fourth quarter valued at approximately $269,000. UBS Asset Management Americas Inc. increased its position in Equinix by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 167,998 shares of the financial services provider’s stock valued at $60,044,000 after buying an additional 1,363 shares in the last quarter. Perigon Wealth Management LLC increased its position in Equinix by 2.9% in the fourth quarter. Perigon Wealth Management LLC now owns 1,296 shares of the financial services provider’s stock valued at $490,000 after buying an additional 37 shares in the last quarter. Teachers Advisors LLC increased its position in Equinix by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 387,245 shares of the financial services provider’s stock valued at $138,405,000 after buying an additional 33,642 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new position in Equinix during the fourth quarter valued at approximately $1,851,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.
Shares of Equinix (NASDAQ:EQIX) opened at 447.81 on Monday. The company has a 50-day moving average of $437.60 and a 200 day moving average of $411.92. Equinix has a 12-month low of $314.55 and a 12-month high of $455.37. The firm has a market cap of $34.89 billion, a P/E ratio of 164.45 and a beta of 0.59.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by $2.83. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a return on equity of 5.51% and a net margin of 5.18%. Equities analysts predict that Equinix will post $4.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Monday, August 21st. Equinix’s dividend payout ratio is 293.04%.
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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