Equinix Inc (EQIX) Receives Average Rating of “Buy” from Analysts

Equinix Inc (NASDAQ:EQIX) has been assigned a consensus recommendation of “Buy” from the nineteen research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $496.60.

A number of equities analysts recently commented on the stock. Nomura boosted their target price on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Co upped their price objective on shares of Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th. BidaskClub upgraded shares of Equinix from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Citigroup upped their price objective on shares of Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating and set a $484.00 price objective for the company in a research note on Monday, February 18th.

Shares of EQIX stock traded down $0.01 on Wednesday, reaching $453.15. 15,031 shares of the stock were exchanged, compared to its average volume of 533,874. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. The company has a market cap of $36.78 billion, a P/E ratio of 21.88, a PEG ratio of 1.60 and a beta of 0.91. Equinix has a twelve month low of $335.29 and a twelve month high of $460.88.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 13th. The financial services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $4.46 by ($3.10). The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Equinix had a return on equity of 6.88% and a net margin of 7.20%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, equities analysts forecast that Equinix will post 20.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 27th were paid a $2.46 dividend. This represents a $9.84 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $2.28. Equinix’s dividend payout ratio is currently 47.56%.

In other news, insider Michael Earl Campbell sold 962 shares of the company’s stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $381.29, for a total value of $366,800.98. Following the completion of the sale, the insider now directly owns 1,753 shares of the company’s stock, valued at $668,401.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles J. Meyers sold 500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $439.91, for a total transaction of $219,955.00. Following the completion of the sale, the chief executive officer now directly owns 6,164 shares of the company’s stock, valued at $2,711,605.24. The disclosure for this sale can be found here. Insiders sold 28,263 shares of company stock valued at $11,593,833 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.

Several large investors have recently made changes to their positions in EQIX. Farmers & Merchants Investments Inc. raised its holdings in Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in Equinix by 158.8% during the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 54 shares in the last quarter. Pearl River Capital LLC purchased a new position in Equinix during the fourth quarter worth about $35,000. Proficio Capital Partners LLC raised its holdings in Equinix by 116.7% during the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 63 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new position in Equinix during the fourth quarter worth about $47,000. 99.06% of the stock is owned by institutional investors and hedge funds.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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