Equinix (NASDAQ:EQIX) Price Target Lowered to $1,065.00 at BMO Capital Markets

Equinix (NASDAQ:EQIX) had its target price cut by BMO Capital Markets from $1,085.00 to $1,065.00 in a report released on Thursday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Scotiabank raised their target price on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Equinix currently has an average rating of “Buy” and a consensus price target of $994.82.

Equinix Price Performance

Shares of EQIX opened at $923.00 on Thursday. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $89.06 billion, a price-to-earnings ratio of 83.23, a PEG ratio of 2.23 and a beta of 0.72. The stock has a 50 day moving average of $936.92 and a 200-day moving average of $894.76.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. As a group, analysts forecast that Equinix will post 31.09 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.03%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio is 199.30%.

Insider Buying and Selling at Equinix

In related news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the sale, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,801 shares of company stock valued at $15,530,564. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Large investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Equinix by 10.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 221,600 shares of the financial services provider’s stock valued at $208,799,000 after purchasing an additional 20,293 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Equinix by 1.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 902,634 shares of the financial services provider’s stock worth $851,085,000 after buying an additional 11,557 shares during the period. Zacks Investment Management purchased a new stake in Equinix during the fourth quarter valued at about $262,000. NewEdge Advisors LLC boosted its holdings in shares of Equinix by 42.3% in the fourth quarter. NewEdge Advisors LLC now owns 1,975 shares of the financial services provider’s stock worth $1,862,000 after buying an additional 587 shares during the period. Finally, NFJ Investment Group LLC increased its position in shares of Equinix by 3.7% in the fourth quarter. NFJ Investment Group LLC now owns 27,066 shares of the financial services provider’s stock worth $25,520,000 after acquiring an additional 970 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

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.