Equinix, Inc. (NASDAQ:EQIX) Receives Consensus Recommendation of “Buy” from Analysts

Equinix, Inc. (NASDAQ:EQIXGet Rating) has received a consensus rating of “Buy” from the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $852.59.

A number of equities research analysts have weighed in on the stock. Cowen lifted their price target on shares of Equinix from $880.00 to $890.00 and gave the company a “market perform” rating in a research report on Thursday, February 17th. TheStreet upgraded shares of Equinix from a “c+” rating to a “b-” rating in a research note on Wednesday, May 4th. Argus decreased their price target on shares of Equinix from $900.00 to $875.00 in a research note on Monday, March 7th. Citigroup began coverage on shares of Equinix in a research note on Sunday, March 20th. They issued a “buy” rating for the company. Finally, BMO Capital Markets boosted their price objective on shares of Equinix from $810.00 to $830.00 and gave the stock a “market perform” rating in a research report on Thursday, February 17th.

In related news, insider Brandi Galvin Morandi sold 878 shares of Equinix stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $701.49, for a total value of $615,908.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles J. Meyers sold 2,879 shares of Equinix stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $701.51, for a total value of $2,019,647.29. The disclosure for this sale can be found here. Insiders have sold 8,612 shares of company stock worth $5,982,636 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Camden National Bank lifted its holdings in shares of Equinix by 1,519.0% during the 4th quarter. Camden National Bank now owns 6,395 shares of the financial services provider’s stock valued at $4,567,000 after buying an additional 6,000 shares during the last quarter. Morgan Stanley lifted its holdings in Equinix by 42.4% in the 2nd quarter. Morgan Stanley now owns 634,960 shares of the financial services provider’s stock worth $509,619,000 after purchasing an additional 189,179 shares during the last quarter. Creative Planning lifted its holdings in Equinix by 12.0% in the 3rd quarter. Creative Planning now owns 2,332 shares of the financial services provider’s stock worth $1,842,000 after purchasing an additional 249 shares during the last quarter. BOKF NA acquired a new stake in Equinix in the 3rd quarter worth approximately $873,000. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Equinix by 2.4% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,362 shares of the financial services provider’s stock worth $1,866,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

EQIX traded up $4.92 during midday trading on Friday, hitting $676.73. 11,204 shares of the company traded hands, compared to its average volume of 462,324. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $61.59 billion, a price-to-earnings ratio of 123.95, a PEG ratio of 3.00 and a beta of 0.46. Equinix has a 52-week low of $621.34 and a 52-week high of $885.26. The business has a 50 day simple moving average of $716.27 and a two-hundred day simple moving average of $742.08.

Equinix (NASDAQ:EQIXGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.46 by ($4.84). Equinix had a return on equity of 4.57% and a net margin of 7.25%. During the same quarter last year, the firm earned $6.98 EPS. Equities research analysts anticipate that Equinix will post 25.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, May 18th will be paid a dividend of $3.10 per share. This represents a $12.40 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, May 17th. Equinix’s dividend payout ratio (DPR) is presently 228.78%.

About Equinix (Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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