Equinix, Inc. to Issue Quarterly Dividend of $4.26 (NASDAQ:EQIX)

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, October 30th, NASDAQ reports. Investors of record on Wednesday, November 13th will be given a dividend of 4.26 per share by the financial services provider on Wednesday, December 11th. This represents a $17.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, November 13th.

Equinix has increased its dividend payment by an average of 10.8% per year over the last three years. Equinix has a dividend payout ratio of 136.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Equinix to earn $33.44 per share next year, which means the company should continue to be able to cover its $17.04 annual dividend with an expected future payout ratio of 51.0%.

Equinix Stock Down 0.2 %

Shares of NASDAQ:EQIX traded down $2.14 during trading hours on Thursday, hitting $908.08. The company’s stock had a trading volume of 850,695 shares, compared to its average volume of 530,166. The firm’s fifty day moving average price is $866.57 and its 200 day moving average price is $804.08. Equinix has a 52 week low of $684.14 and a 52 week high of $943.02. The company has a market capitalization of $86.22 billion, a price-to-earnings ratio of 81.88, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $8.04 EPS. As a group, research analysts expect that Equinix will post 31.01 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EQIX. Wells Fargo & Company raised their price target on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Evercore ISI raised their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $944.63.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,906 shares of company stock worth $9,071,764. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.