Equinix, Inc. (EQIX) Given Average Recommendation of “Buy” by Analysts
Shares of Equinix, Inc. (NASDAQ:EQIX) have earned a consensus recommendation of “Buy” from the twenty-two ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $502.95.
A number of equities analysts recently commented on EQIX shares. Citigroup upped their target price on Equinix from $518.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Nomura upped their target price on Equinix from $490.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Deutsche Bank started coverage on Equinix in a report on Tuesday, October 24th. They set a “buy” rating and a $550.00 target price for the company. Berenberg Bank started coverage on Equinix in a research note on Tuesday, September 26th. They issued a “buy” rating and a $550.00 price target on the stock. Finally, Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $547.00 price target on the stock in a research note on Monday, November 6th.
In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $457.84, for a total value of $686,760.00. Following the sale, the chief financial officer now directly owns 26,196 shares of the company’s stock, valued at $11,993,576.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 200 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $462.43, for a total value of $92,486.00. Following the completion of the sale, the insider now directly owns 925 shares in the company, valued at $427,747.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,193 shares of company stock worth $2,892,191. Insiders own 0.58% of the company’s stock.
Shares of Equinix (EQIX) traded up $1.54 during trading on Monday, hitting $449.49. The company had a trading volume of 333,000 shares, compared to its average volume of 400,052. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market capitalization of $35,044.79, a P/E ratio of 148.35, a PEG ratio of 1.55 and a beta of 0.46. Equinix has a one year low of $361.90 and a one year high of $495.35.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $2.24. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.95 earnings per share. equities analysts predict that Equinix will post 16.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th were paid a $2.00 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $8.00 annualized dividend and a yield of 1.78%. Equinix’s payout ratio is 264.03%.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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