Equinix (NASDAQ:EQIX) Downgraded by BidaskClub

BidaskClub cut shares of Equinix (NASDAQ:EQIX) from a hold rating to a sell rating in a report issued on Tuesday morning, BidAskClub reports.

A number of other research analysts also recently issued reports on EQIX. Guggenheim boosted their price objective on Equinix from $505.00 to $540.00 and gave the company a sell rating in a research note on Tuesday, July 2nd. Citigroup boosted their price objective on Equinix from $508.00 to $527.00 and gave the company a buy rating in a research note on Thursday, May 2nd. BMO Capital Markets reiterated a buy rating and set a $520.00 price objective on shares of Equinix in a research note on Tuesday, July 2nd. Royal Bank of Canada boosted their price objective on Equinix from $500.00 to $520.00 and gave the company an outperform rating in a research note on Monday, May 6th. Finally, Raymond James boosted their price objective on Equinix from $500.00 to $520.00 and gave the company a strong-buy rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Equinix currently has a consensus rating of Buy and an average price target of $527.21.

Equinix stock opened at $524.09 on Tuesday. The company’s 50-day moving average price is $509.10. The company has a market cap of $40.60 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.74 and a beta of 0.73. Equinix has a 52-week low of $335.29 and a 52-week high of $533.08. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.25.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. Equinix had a net margin of 9.29% and a return on equity of 6.53%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.63 earnings per share. On average, equities research analysts forecast that Equinix will post 20.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a $2.46 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a yield of 1.88%. Equinix’s dividend payout ratio is presently 47.56%.

In related news, insider Michael Earl Campbell sold 1,250 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $490.87, for a total transaction of $613,587.50. Following the sale, the insider now owns 2,578 shares in the company, valued at approximately $1,265,462.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 200 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $487.88, for a total value of $97,576.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,450 shares of company stock worth $1,202,784. 0.49% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. raised its position in Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 21 shares during the period. Meridian Wealth Management LLC acquired a new position in Equinix in the first quarter valued at approximately $28,000. Washington Trust Bank bought a new stake in shares of Equinix during the first quarter valued at approximately $29,000. Spectrum Management Group Inc. bought a new stake in shares of Equinix during the first quarter valued at approximately $29,000. Finally, Berman Capital Advisors LLC raised its holdings in Equinix by 44.9% during the second quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 99.65% of the company’s stock.

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.

Read More: Intrinsic Value

Analyst Recommendations for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.