Wolfe Research downgraded shares of Equinix (NASDAQ:EQIX - Free Report) from an outperform rating to a peer perform rating in a report released on Monday morning, Marketbeat reports.
Other equities analysts have also recently issued research reports about the company. Citigroup boosted their price target on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Bank of America initiated coverage on Equinix in a report on Monday, May 19th. They set a "buy" rating and a $1,000.00 price target for the company. Truist Financial dropped their price objective on shares of Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Equinix has an average rating of "Buy" and a consensus price target of $1,004.80.
Read Our Latest Report on EQIX
Equinix Stock Up 0.3%
NASDAQ:EQIX traded up $2.72 during midday trading on Monday, hitting $896.42. 493,898 shares of the company were exchanged, compared to its average volume of 525,396. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a market capitalization of $87.69 billion, a PE ratio of 104.84, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a fifty day simple moving average of $845.84 and a 200 day simple moving average of $890.18.
Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $8.86 EPS. As a group, equities analysts anticipate that Equinix will post 33.1 earnings per share for the current fiscal year.
Equinix Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.09%. Equinix's dividend payout ratio (DPR) is 195.01%.
Insider Activity at Equinix
In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director now directly owns 17,569 shares of the company's stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business'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 transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer now directly owns 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by corporate insiders.
Institutional Trading of Equinix
A number of hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC lifted its stake in shares of Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after purchasing an additional 11 shares during the period. 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. Great Lakes Retirement Inc. boosted its stake in Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after buying an additional 12 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock worth $713,000 after buying an additional 12 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.
Equinix Company Profile
(
Get Free Report)
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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