Equinix, Inc. (NASDAQ:EQIX) Given Consensus Rating of "Buy" by Brokerages

Shares of Equinix, Inc. (NASDAQ:EQIX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twenty-nine ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $957.05.

EQIX has been the subject of several recent research reports. Barclays decreased their price objective on Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a research note on Friday. Guggenheim initiated coverage on Equinix in a research note on Thursday. They issued a "buy" rating and a $933.00 price objective for the company. Cfra Research cut Equinix from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, June 26th. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, TD Securities boosted their target price on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,176 shares of company stock valued at $2,808,008. Insiders own 0.27% of the company's stock.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently made changes to their positions in EQIX. Legacy Financial Advisors Inc. lifted its position in Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock worth $340,000 after buying an additional 11 shares during the period. Cornerstone Planning Group LLC lifted its position in Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock worth $34,000 after buying an additional 12 shares during the period. Signaturefd LLC lifted its position in Equinix by 0.8% during the first quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock worth $1,182,000 after buying an additional 12 shares during the period. AE Wealth Management LLC lifted its position in Equinix by 5.1% during the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider's stock worth $202,000 after buying an additional 12 shares during the period. Finally, Gitterman Wealth Management LLC lifted its position in Equinix by 5.0% during the first quarter. Gitterman Wealth Management LLC now owns 250 shares of the financial services provider's stock worth $206,000 after buying an additional 12 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Down 0.3%

Shares of NASDAQ:EQIX opened at $756.70 on Friday. The business has a 50-day moving average price of $856.50 and a 200 day moving average price of $868.83. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $74.02 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same period last year, the business posted $8.86 EPS. Equinix's revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts expect that Equinix will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is 195.01%.

About Equinix

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.

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