Equinix, Inc. (NASDAQ:EQIX) Given Average Recommendation of “Buy” by Analysts

Equinix, Inc. (NASDAQ:EQIX) has received a consensus recommendation of “Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $995.24.

EQIX has been the subject of several research reports. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Barclays lifted their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. BMO Capital Markets cut their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $859.52 on Monday. The firm has a market capitalization of $83.66 billion, a P/E ratio of 100.53, a PEG ratio of 1.78 and a beta of 0.74. Equinix has a one year low of $684.14 and a one year high of $994.03. The company’s fifty day moving average is $923.05 and its two-hundred day moving average is $908.05. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Analysts forecast that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Transactions at Equinix

In other news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at $20,085,186.32. The trade was a 12.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its holdings in Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after acquiring an additional 3,212 shares during the period. National Pension Service boosted its holdings in Equinix by 1.3% in the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after acquiring an additional 3,164 shares during the period. Bank of New York Mellon Corp boosted its holdings in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after acquiring an additional 2,560 shares during the period. Brookfield Corp ON boosted its holdings in Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after acquiring an additional 32,481 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after acquiring an additional 404 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.