Equinix, Inc. (NASDAQ:EQIX) Plans $4.26 Quarterly Dividend

Equinix, Inc. (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Shareholders of record on Wednesday, May 22nd will be paid a dividend of 4.26 per share by the financial services provider on Wednesday, June 19th. This represents a $17.04 annualized dividend and a yield of 2.46%.

Equinix has raised its dividend payment by an average of 10.8% annually over the last three years and has increased its dividend annually for the last 8 consecutive years.

Equinix Stock Performance

Shares of NASDAQ EQIX traded down $19.16 during midday trading on Wednesday, reaching $692.71. 875,103 shares of the company were exchanged, compared to its average volume of 599,941. The stock has a fifty day simple moving average of $800.46 and a 200 day simple moving average of $802.10. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a market cap of $65.54 billion, a P/E ratio of 67.19, a PEG ratio of 1.81 and a beta of 0.62. Equinix has a 1 year low of $672.88 and a 1 year high of $914.93.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Truist Financial increased their price target on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Morgan Stanley dropped their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. BMO Capital Markets raised their price target on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, Barclays dropped their price objective on Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $870.44.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the sale, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares in the company, valued at $19,314,307.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Insiders have sold a total of 4,585 shares of company stock valued at $3,818,268 over the last quarter. Company 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.