Brokerages Set Equinix Inc (NASDAQ:EQIX) PT at $503.06

Equinix Inc (NASDAQ:EQIX) has received a consensus recommendation of “Buy” from the twenty-two ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $503.06.

Several analysts have commented on EQIX shares. BidaskClub downgraded Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Credit Suisse Group increased their target price on Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. Citigroup increased their target price on Equinix from $482.00 to $508.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. ValuEngine raised Equinix from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, Oppenheimer increased their price target on Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd.

Shares of EQIX opened at $504.11 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.25. Equinix has a 12 month low of $335.29 and a 12 month high of $508.99. The firm has a market cap of $40.78 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate of $5.16 by ($3.72). Equinix had a net margin of 8.06% and a return on equity of 5.66%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business posted $5.21 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Equinix will post 20.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $2.46 per share. The ex-dividend date is Tuesday, May 21st. This represents a $9.84 annualized dividend and a dividend yield of 1.95%. Equinix’s payout ratio is 47.56%.

In related news, insider Michael Earl Campbell sold 1,250 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $490.87, for a total value of $613,587.50. Following the transaction, the insider now directly owns 2,578 shares of the company’s stock, valued at approximately $1,265,462.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $487.88, for a total value of $97,576.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,732 shares of company stock worth $1,775,800 over the last three months. Insiders own 0.49% of the company’s stock.

A number of institutional investors have recently made changes to their positions in EQIX. Eagle Boston Investment Management Inc. raised its stake in shares of Equinix by 1.1% during the first quarter. Eagle Boston Investment Management Inc. now owns 2,075 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 23 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Equinix by 25.3% in the first quarter. Rehmann Capital Advisory Group now owns 114 shares of the financial services provider’s stock valued at $52,000 after buying an additional 23 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. raised its position in shares of Equinix by 27.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock valued at $50,000 after buying an additional 24 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of Equinix by 15.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 186 shares of the financial services provider’s stock valued at $84,000 after buying an additional 25 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC raised its position in shares of Equinix by 1.2% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 2,328 shares of the financial services provider’s stock valued at $821,000 after buying an additional 27 shares during the last quarter. 99.65% of the stock is currently owned by institutional investors.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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