Equinix, Inc. (NASDAQ:EQIX) Plans Quarterly Dividend of $4.69

Key Points

• Equinix, Inc. declared a quarterly dividend of $4.69 per share, reflecting an annualized total of $18.76 and a yield of 2.35%, payable on September 17th to shareholders on record as of August 20th.
• The company has a high payout ratio of 118.6%, indicating reliance on its balance sheet for dividend payments, although future earnings projections suggest a more sustainable payout ratio of 52.0%.
• Equinix's stock price has fluctuated between a 1-year low of $701.41 and a high of $994.03, with a current trading price around $797.04, and it holds a market capitalization of $77.97 billion.

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Wednesday, August 20th will be paid a dividend of 4.69 per share by the financial services provider on Wednesday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 20th.

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. 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 Down 1.7%

Shares of NASDAQ:EQIX traded down $13.49 during trading on Friday, reaching $771.69. 192,816 shares of the company were exchanged, compared to its average volume of 642,887. The firm has a market capitalization of $75.49 billion, a PE ratio of 75.73, a P/E/G ratio of 1.47 and a beta of 0.93. The business's fifty day simple moving average is $833.04 and its 200-day simple moving average is $854.59. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.27%. Equinix's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.22 earnings per share. On average, research analysts anticipate that Equinix will post 33.1 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on EQIX shares. UBS Group cut their price target on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Truist Financial decreased their target price on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research report on Tuesday, July 1st. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Cfra Research downgraded shares of Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, June 26th. Finally, Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Equinix currently has a consensus rating of "Buy" and a consensus price target of $957.27.

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.