Oppenheimer Analysts Lower Earnings Estimates for Equinix Inc (NASDAQ:EQIX)

Equinix Inc (NASDAQ:EQIX) – Equities researchers at Oppenheimer cut their Q3 2019 earnings per share estimates for shares of Equinix in a research note issued to investors on Wednesday, July 31st. Oppenheimer analyst T. Horan now expects that the financial services provider will post earnings of $4.93 per share for the quarter, down from their previous estimate of $5.26. Oppenheimer has a “Outperform” rating and a $550.00 price objective on the stock. Oppenheimer also issued estimates for Equinix’s Q4 2019 earnings at $5.05 EPS and FY2020 earnings at $23.40 EPS.

Other equities analysts have also recently issued reports about the company. Guggenheim boosted their target price on Equinix from $505.00 to $540.00 and gave the stock a “sell” rating in a research report on Tuesday, July 2nd. Mitsubishi UFJ Financial Group boosted their target price on Equinix from $460.00 to $484.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. BidaskClub cut Equinix from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Citigroup boosted their target price on Equinix from $508.00 to $527.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, UBS Group upped their price objective on Equinix from $510.00 to $560.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Equinix presently has an average rating of “Buy” and a consensus price target of $527.21.

Equinix stock opened at $519.86 on Monday. Equinix has a 52 week low of $335.29 and a 52 week high of $533.08. The business’s 50-day simple moving average is $509.95. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.56 and a current ratio of 1.59. The stock has a market capitalization of $42.38 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.82 and a beta of 0.73.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm earned $3.63 earnings per share. Equinix’s quarterly revenue was up 9.8% compared to the same quarter last year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Securities Inc. grew its holdings in Equinix by 51.1% during the fourth quarter. Comerica Securities Inc. now owns 1,958 shares of the financial services provider’s stock valued at $690,000 after purchasing an additional 662 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Equinix by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 973,381 shares of the financial services provider’s stock worth $342,531,000 after acquiring an additional 65,128 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Equinix in the fourth quarter worth $564,000. Biltmore Wealth Management LLC acquired a new stake in shares of Equinix in the first quarter worth $583,000. Finally, Washington Trust Bank acquired a new stake in shares of Equinix in the first quarter worth $29,000. 98.03% of the stock is owned by institutional investors.

In other news, CAO Simon Miller sold 385 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $516.27, for a total value of $198,763.95. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $355,710.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $491.62, for a total value of $491,620.00. Following the completion of the sale, the insider now directly owns 2,578 shares of the company’s stock, valued at approximately $1,267,396.36. The disclosure for this sale can be found here. Insiders sold a total of 5,795 shares of company stock valued at $2,930,210 over the last quarter. Company insiders own 0.49% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a $2.46 dividend. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, August 20th. Equinix’s payout ratio is currently 47.56%.

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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Earnings History and Estimates for Equinix (NASDAQ:EQIX)

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