Equinix (NASDAQ:EQIX) Now Covered by Analysts at Guggenheim

Guggenheim started coverage on shares of Equinix (NASDAQ:EQIX - Free Report) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $933.00 price objective on the financial services provider's stock.

Other equities research analysts have also issued research reports about the stock. Barclays raised their price target on shares of Equinix from $834.00 to $837.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. TD Securities lifted their target price on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup boosted their price objective on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company decreased their target price on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $957.38.

Equinix Price Performance

Shares of Equinix stock traded down $3.92 on Thursday, hitting $754.97. 329,455 shares of the company traded hands, compared to its average volume of 561,373. The firm's 50-day simple moving average is $858.89 and its 200 day simple moving average is $870.72. 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 cap of $73.85 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.10 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 released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm earned $8.86 EPS. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. Analysts expect that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

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

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction that occurred 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 directly owned 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider owned 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. Insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EQIX. CX Institutional increased its stake in shares of Equinix by 6.4% during the second quarter. CX Institutional now owns 385 shares of the financial services provider's stock worth $306,000 after purchasing an additional 23 shares in the last quarter. Weatherly Asset Management L. P. grew its stake in Equinix by 0.6% during the second quarter. Weatherly Asset Management L. P. now owns 5,077 shares of the financial services provider's stock worth $4,039,000 after buying an additional 32 shares during the period. Global X Japan Co. Ltd. grew its stake in Equinix by 25.3% during the second quarter. Global X Japan Co. Ltd. now owns 277 shares of the financial services provider's stock worth $220,000 after buying an additional 56 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of Equinix by 23.9% in the second quarter. Miller Howard Investments Inc. NY now owns 4,788 shares of the financial services provider's stock valued at $3,809,000 after purchasing an additional 924 shares during the period. Finally, Diversified Trust Co raised its holdings in shares of Equinix by 416.4% during the second quarter. Diversified Trust Co now owns 4,379 shares of the financial services provider's stock worth $3,483,000 after purchasing an additional 3,531 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Company Profile

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.