Equinix (EQIX) Set to Announce Quarterly Earnings on Wednesday

Equinix (NASDAQ:EQIX) will be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $7.70 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.04 EPS. On average, analysts expect Equinix to post $31 EPS for the current fiscal year and $33 EPS for the next fiscal year.

Equinix Trading Down 0.2 %

Shares of NASDAQ:EQIX opened at $878.37 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $83.36 billion, a price-to-earnings ratio of 88.10, a PEG ratio of 2.13 and a beta of 0.71. Equinix has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a 50 day moving average price of $857.54 and a 200 day moving average price of $798.99.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EQIX shares. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Evercore ISI raised shares of Equinix to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $914.36.

Insider Buying and Selling

In other Equinix news, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,043 shares of company stock valued at $8,282,119. Insiders own 0.27% 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.